Under pressure from its trade partners, the Chinese State Council announced it will lower tariffs on some consumer goods ranging from computers to textile products.
The tariffs under category one will be lowered to 13% from 15% and those under category two will be lowered to 20% from 25%, according to an official statement. The adjustment will take effect on April 9.
Category one includes consumer products like books, magazines, computers, video camera, food, beverage, furniture, qualified drugs, among others. The items under category two are sporting goods (exclude golf balls and equipments), fishing products, textile products and bikes.
The move is recognized as part of Beijing’s efforts in response to major trade partners that are challenging its trade practises.
China and the US have slapped tariffs on more than US$360 billion in two-way trade, while the European Union may be ready to take China to task for alleged unfair trade policies.