China decides to reduce tariffs on soybean imports from some countries to zero
Beijing, June 26 (People's Daily Online) -- The Customs Tariff Commission of The State Council announced on June 26 that it will cut import tariffs on soybeans from some Asia-Pacific countries, and announced a list of other products with reduced tariffs.
On the 26th, the Customs Tariff Commission of The State Council issued the Notice of the Customs Tariff Commission of The State Council on the implementation of the Second Amendment to the Asia-Pacific Trade Agreement (hereinafter referred to as the Notice).
According to the Notice, it is decided to apply the tariff rates of the Second Amendment to the Asia-Pacific Trade Agreement to imported goods originating from Bangladesh, India, Laos, the Republic of Korea and Sri Lanka as of July 1, 2018.
It is understood that the tariff reduction list includes agricultural products, chemical raw materials, medical raw materials, plastic products, rubber tires, textiles, garments, steel and aluminum products and other imported commodities. Among them, the import tariff on soybeans was lowered from 3 percent to 0 percent.