China's Cutting Taxes for the Industries Trump Wants to Punish
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China’s high-tech industries are among sectors poised to gain from a fresh round of tax cuts, just as U.S. President Donald Trump weighs tariffs to penalize them.
The value-added tax on manufacturing will be cut to 16 percent from 17 percent starting May 1 while the rate on transportation, construction, and telecommunications services will be lowered to 10 percent from 11 percent, the State Council said in a statement late Wednesday.