China will lower import tariffs on approx 1,500 consumer products, from July 1.
The tariffs will be reduced in various fields varying from cosmetics to home appliances. The finance ministry published a detailed list of products affected and their new reduced tax rates on Thursday.
In a statement on its website the finance ministry stated that, the average tariff rate on 1,449 products imported from most favored nations will be reduced to 6.9%, from 15.7%. Import tariffs for apparel, footwear and headgear, kitchen supplies and fitness products will be 7.1% now, from 15.9%, while for washing machines and refrigerators tariffs will be slashed to just 8%, from 20.5%.
Tariffs on processed foods such as aquaculture and fishing products and mineral water, will also be reduced from 15.2% to 6.9%. Cosmetics, such as skin and hair products, and some medical and health products, will also see tariff cut to 2.9%, from 8.4%.
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