China reduces import duties on washing machines, other consumer goods
Beijing is reducing import duties on washing machines, cosmetics and some other consumer goods amid US pressure to narrow its multibillion-dollar trade surplus, AP reported. The government announcement on Wednesday was the third tariff cut in six months on selected imports in what China says is an effort to improve consumer choice and encourage domestic consumption. Import duties on washing machines and refrigerators will be cut from 20.5 percent to 8 percent, effective July 1. Duties also will be cut on cosmetics, some drugs, shoes and some other goods. Beijing is in the midst of talks with Washington on possible measures to narrow its trade surplus by increasing imports.