China announces tariff cut but no action on U.S. complaints
The announcement is the second cut in import taxes in less than a year in an effort to lower costs for consumers and make the economy more competitive. But the duties on imports battle persists
BEIJING – China has announced a new cut in import tariffs but no action on U.S. complaints about its technology policy that are fueling an escalating trade battle with Washington.
The announcement Wednesday is the second cut in import taxes in less than a year in what the government says is an effort to lower costs for consumers and make the economy more competitive.
The Cabinet said import taxes on 1,585 products including construction machinery and building materials will be cut effective Nov. 1. A similar cut last November applied to food and consumer goods.
While China has cut tariffs on goods from other countries, Beijing and Washington have raised duties on billions of dollars of each other’s imports in a battle over Chinese technology policy.