BEIJING — China will cut import tariffs for frozen pork, pharmaceuticals and some high-tech components starting from Jan. 1, a move that comes as Beijing and Washington are trying to complete a phase-one trade deal.
The plan, approved by China’s cabinet, will lower tariffs for all trading partners on more than 2020 types of products to below the rates that most-favored nations enjoy, the Finance Ministry said Monday. Most-favored-nation rates are the lowest possible tariffs a country offers to its trading partners.
…
GIPHY App Key not set. Please check settings