<span style="color: #222222;">China has said that it will lower import tariffs on over 850 products, including frozen pork, from January next year. The finance Ministry said today that the lowered tariffs may help ease the pressure on the country's depleted pork supply.</span><br />'' <span style="color: #222222;"><br />''China has been hit by a severe pork shortage after African Swine Fever tore through the country's pig herds. According to official statistics, more than a million pigs have been culled due to the disease, and prices of the staple meat have more than doubled.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">Today's announcement said tariffs on frozen pork will drop from 12 per cent to 8 per cent from January 1. The announcement from the Tariff Commission of the State Council said, the changes will optimise the trade structure and promote the high-quality development of the economy.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">Other products which will have lower import tariffs include food products — such as fish, cheese and nuts — pharmaceuticals and a range of chemical products.</span><br />'' <span style="color: #222222;">&nbsp;</span><br />'' <span style="color: #222222;">According to the statement, Goods from countries including New Zealand, Peru, Costa Rica, Switzerland, Iceland, Australia, South Korea, and Pakistan will also be subject to even lower levies under re-negotiated bilateral trade agreements.</span><br />'' <span style="color: #222222;">The move does not appear to be linked with the bruising US-China trade war, which has seen Washington and Beijing exchanging blows for more than a year.</span><br />
News On AIR | December 23, 2019 1:50 PM
China to lower import tariffs on over 850 products from January