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.
Read More:
- U.S. Tariff Threats Give China All the More Reason to Reform Its Auto Sector (Sept. 24, 2018)
- China, U.S.: The Trade Fight Escalates With New Rounds of Tariffs (Sept. 19, 2018)
- These Are the Areas Where U.S. Tariffs Will Hit China the Hardest (Aug. 31, 2018)
- U.S. Firms Caught in the Crossfire in Trade War with China (July 20, 2018)
