Tue, Apr 09, 2019 - Page 11 News List

PRC cuts tariffs on computers and other goods


China yesterday announced that it would lower the tariffs on consumer goods ranging from computers to furniture and bicycles as Beijing faces worldwide scrutiny over its trade practices.

Beijing and Washington have slapped tariffs on more than US$360 billion in two-way trade in their simmering trade spat, while Europe had indicated that it would take China to task for alleged unfair trade policies.

China’s tariff rate on imported goods such as books, computers, food, furniture and medicines would drop to 13 percent starting today, the Chinese State Council’s tariff commission announced.

The goods had been taxed at a 15 percent rate, Xinhua news agency reported.

The border tax on other imported goods such as sporting equipment, fishing supplies, textiles, electronic appliances and bicycles would also be lowered to 20 percent from 25 percent, Xinhua reported.

Top EU leaders are to meet Chinese Premier Li Keqiang (李克強) this week at a summit in Brussels, but their hopes of winning solid commitments on trade look set for disappointment.

US President Donald Trump on Friday last week said that talks with Beijing were making progress toward ending the trade dispute between the world’s two top economies, but he again stopped short of predicting success.

US Trade Representative Robert Lighthizer and US Secretary of the Treasury Steven Mnuchin engaged in trade talks with a delegation led by Chinese Vice Premier Liu He (劉鶴) in Washington from Wednesday to Friday last week.

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