China Will Lower Tariffs on 850 Products, Starting from January 1

The Chinese finance ministry stated on its website that China will lower its import tariffs on over 850 products from January 1, 2020, including frozen pork, avocado, non-frozen orange juice, new asthma and diabetes drugs, key components and machines for manufacturing integrated circuits, and some logs and paper products.

 

Products from New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile and Pakistan will benefit by even lower levies under the re-negotiated free trade agreements with China, according to the statement.

Even though this does not directly related to the U.S. and China trade war, this could be seen as an optimistic sign on opening-up the country.