China to reduce tariffs for textile and metal products – The Economic Journal



China will lower import tariffs on textiles and metal products from 11.5 percent to 8.4 percent from November 1, according to the Chinese minister in the Finance portfolio, reports Reuters.

Among the products that will suffer interruptions in import tariffs will, according to the news agency, wood and paper products, from 6.6% to 5.4%.

The tariff reduction is "in line with the promotion of balanced development" in trade and "promoting a higher level of openness with the world," the official said.

It should be noted that there has been a tension between China and the United States with regard to increasing tariffs for a wide range of products, including aluminum.


Source link