China to Slash Tariffs on Range of Items Amid Push for Trade Offer – The Wall Street Journal

BEIJING—China will cut import tariffs for frozen pork, prescription drugs and some significant-tech components commencing from Jan. one, a transfer that will come as Beijing and Washington are hoping to complete a stage-one particular trade deal.

The program, accredited by China’s cupboard, will decreased tariffs for all trading partners on extra than 859 types of solutions to under the rates that most-favored nations enjoy, the Finance Ministry reported Monday. Most-favored-country rates are the cheapest possible tariffs a country gives to its trading associates.