situation report

China: Beijing to Cut Tariffs on 1,585 Products

1 MIN READSep 26, 2018 | 15:23 GMT

What Happened: China is planning to cut import tariffs on 1,585 goods starting Nov. 1, Bloomberg reported Sept. 26. China has not released the full list of goods, but machinery, textiles and construction materials will reportedly be included.

Why It Matters: The reduced tariffs will boost the Chinese economy and increase domestic consumption in sectors that have suffered from Beijing's trade war with the United States.

Background: China moved to reduce tariffs on consumer goods in July in an effort to stimulate consumption.

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