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China Announces Tariff Cut but No Action on U.S. Complaints

Posted September 26, 2018

Under Economic Issues, International Trade Issues

(Associated Press)

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. Click here to read more.

Note: Canada’s overall average tariff rate is 1.6% and the rate for the U.S. is 1.7%.