China Plans Tariff Cut on Wide Range of Consumer Goods
- Food, health, cosmetics included in cuts scheduled for July 1
- U.S. Commerce Secretary due in Beijing early next month
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China is planning to reduce import duties on consumer goods ranging from food to cosmetics, people familiar with the matter said.
The tariff cuts, which would be effective as early as July 1, would apply to significantly more product lines than a similar reduction on around 200 items announced last year, said the people, who asked not to be identified as the discussions aren’t public. This week, Beijing announced the reduction of tariffs on car imports to 15 percent from 25 percent, also effective as of July 1.