China: Reduce tariffs from 2020: pharmaceuticals, pork, high-tech products
Beijing
December 25, 2019
State Council Customs and Tax Commission:
On December 23, the company announced that it would adjust import and export tariffs on some items from January 1, 2020.
For 859 items, the provisional import tax rate lower than the most favored country tax rate (MFN tax rate) for WTO member countries will be applied (Note).
Pharmaceuticals:
Of the 859 items, zero tariffs will be imposed on alkaloid drugs for asthma treatment and raw materials for the production of new diabetes treatment drugs to reduce drug costs and promote the production of new drugs.
Food:
A new provisional tax rate has been established.
The shortage of pork has been pointed out by the African swine fever (ASF) epidemic.
The tariff rate for frozen pork (HS code 02032200, 02032900) will be reduced from 12% to 8%.
Semiconductor-related products: reduction
To expand the import of advanced technology, equipment, and components to support the development of high-tech technology industries
Automobile torque converter: (87084091, 87084099)
Aluminum valve core: (87084091, 87084099),
Integrated circuit (IC) storage: (85423210)
Dispersion for photoresist: (32041700)
-JETRO
https://www.jetro.go.jp/biznews/2019/12/abe059e5e10de93e.html