World Economy

China Reducing Tariffs

China Reducing TariffsChina Reducing Tariffs

China has begun reducing its tariffs on a range of technology goods imported from World Trade Organization members, South Korea’s customs authorities confirmed Sunday, Yonhap reported. On Sept. 15, China started reducing import tariffs on 201 technology goods under the Information Technology Agreement of the WTO, according to the Korea Customs Service. China will eliminate import duties on the goods over the next three to seven years. The technology goods included TV cameras and set-top boxes for satellite TVs, which are not covered by a bilateral free trade agreement between South Korea and the United States.