China marks Jan. 1 with tariff reduction on 850 products

The Chinese government has announced that it will reduce import tariffs on 850 products starting Jan. 1.

China’s State Council Customs Tariff Commission in Beijing approved the reductions on Dec. 23.

“The adjustments will be made to expand imports, promote the coordinated development of trade and environment, advance the high-quality development of the jointly building of the Belt and Road,” the Chinese state-run Xinhua News Agency reported.

The Customs Tariff Commission said the new import tariffs will be lower than the most-favored-tariff levels currently in place for the 850 products, such as

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