China: China to Cut Tariffs on Agricultural Products
On July 1, China will cut most-favored-nation (MFN) tariffs for 1,449 taxable items, including several agricultural and seafood items. The tariff reductions include 388 food and agricultural related products such as seafood, processed meat, processed vegetable, sauces, and snack food products. The announcement will impact Chinese food agriculture related imports from the United States with an estimated value of $1.9 billion in 2017, and lower average tariff rates from 15.2 percent to 6.9 percent. U.S. exporters should be aware of the new tariffs and check with local importers to verify changes in their tariff rate.
China: China to Cut Tariffs on Agricultural Products
