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China Plans Broad Import Tax Cut as Soon as October

  • Beijing is trying to boost imports amid trade war with U.S.
  • It’s unclear how the reduction would affect American goods
Bloomberg business news
China plas to cut average tariff rates on imports from the majority of its trading partners. Joe Sobczyk reports.(Source: Bloomberg)
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China is planning to cut average tariff rates on imports from the majority of its trading partners as soon as next month, two people familiar with the matter said, in a move that would lower costs for consumers as a trade war with the U.S. deepens.

The two people asked not to be named because the matter isn’t public yet. Premier Li Keqiang said Wednesday that China would reduce tariffs, though he didn’t elaborate.