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China Cuts Average Import Tax on 1,449 Consumer Products by 60%

Import tariffs on some 1,449 consumer products are to be cut as of 1 July this year. The move, which will affect a wide range of goods, including cosmetics, pharmaceuticals and home appliances, was approvedby the State Council during its 30 May executive meeting. The average import levy of the products in question will fall from 15.7% to 6.9%, equivalent to a 60% cut.

For further details, please visit the following links:

Announcement of the State Council Customs Tariff Commission on Reducing Import Tariffs on Daily Consumer Goods (Customs Tariff Commission Announcement No. 4 [2018]) (in Chinese)

China Cuts Import Tariffs and Bolsters Access and Support for Overseas Investors  

 

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