China Lowers Import Tariffs
Starting from 1st January 2020 China has reduced import tariffs on several categories of goods to boost trade.
Consumer goods, agricultural products, pharmaceuticals, semiconductor components and automobiles have all seen tariffs adjusted. Adjustments to food products include a cut in import duties on frozen pork from 12% to 8%, frozen fish from 7% to 2% and frozen orange juice from 30% to 15%. Duties on medicines for pharmaceutical products containing alkaloids for asthma treatment and raw materials for the production of new diabetes medicines have been eliminated.