World Briefs: China to cut tariffs on 1,500 products

September 27, 2018 3:21 AM

BEIJING • China yesterday unveiled plans to cut tariffs for products, including machinery, electrical equipment and textile products, from Nov 1. The cuts on over 1,500 industrial products are expected to lower costs for consumers and companies by about 60 billion yuan (S$11.9 billion) this year, the state Cabinet said in a meeting chaired by Premier Li Keqiang. The overall tariff level will be reduced to 7.5 per cent this year from 9.8 per cent last year as a result. 

from The Straits Times World News https://ift.tt/2zvRLVx
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