China to Decrease Tariffs on More Than 700 Items Jan. 1
China will decrease tariffs on 706 items on Jan. 1, 2019, including on raw materials for production, such as raw aluminum. It is also cutting tariffs sharply on many more advanced items. For instance, the tariff on laser welding machines will drop from 10 percent to 5 percent; camera tariffs will fall from 9 percent to 4 percent; movie camera and projector tariffs will fall from 8 percent to 3 percent; tariffs on printing machines and copiers will be reduced from 10 percent to 3 percent; tariffs on heavy trucks with cranes will drop from 15 percent to 8 percent; and tariffs on cement trucks and wreckers will slide from 15 percent to 10 percent.
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China is reducing the tariff on raw furs from 15 percent to 10 percent; on pearls, from 21 percent to zero; and on macadamia nuts, from 24 percent to 12 percent. The full list of tariff changes is available at the Finance Ministry site.
On July 1, 2019, China intends to no longer increase the provisional tax rate on 14 information technology products, and will implement a fourth round of tariff reductions on 298 information technology products, the ministry also said. China said it is making the tariff reductions "to make full use of domestic and international markets and resources."