China announces strident tariff cuts on consumer goods
From July 1, average tariff rates on imports of clothing, shoes, hats, kitchen appliances and sports products will fall from 15.9% to 7.1%
The State Council has agreed to an array of tariff cuts, ranging from home appliances to processed food, The Paper reported.
The State Council executive meeting hosted by Premier Li Keqiang on Wednesday agreed to take action to promote the quality improvement and the industrial upgrade of domestic products by reducing import tariffs on daily consumer goods.
Thus, from July 1 this year, the average tariff rate on imports of clothing, shoes, hats, kitchen appliances and sports and fitness products will fall from 15.9% to 7.1%. While that of home appliances, such as washing machines and refrigerators, will drop from 20.5% to 8%.
For imported processed food, including cultured and fishery products as well as mineral water, the tariff rate will fall from 15.2% to 6.9% on average. While toiletries, skin care and hairdressing products, as well as some medical and health products, will fall from 8.4%. 2.9%.
The State Council urges relevant departments to implement related tax reduction measures, so as to boost the competitiveness of domestic industries.