China to cut tariffs on goods Including pork, tech items

Residents in Beijing buying meat at a local market. China has cut import tariffs on a wide range of goods including food, consumer items and parts for manufacturing smart-phones, continuing Beijing’s drive to lower trade barriers and spur domestic demand on Monday (Dec 23). - ANN

The Ministry of Finance on Monday published a list of 859 types of products that will enjoy tariffs lower than the standard rates for this year. It included frozen pork as a key item aimed at alleviating shortages of the meat due to the outbreak of African swine fever. The provisional levies on the items will take effect from Jan. 1.

While the move isn’t directly related to the U.S.-China trade war, it supports the government’s claim to be further opening its economy as it pursues a deal with President Donald Trump’s administration. With economic growth seen slowing next year to 6% or below, officials also have an interest in lowering the cost of imported consumer goods.