China lowers commodity tariffs on ASEAN goods
Effective as of tomorrow (July 20), goods from six member countries of Association of Southeast Asian Nations (ASEAN) will enjoy lower tariff rates in
China.
The new tariff rates, which will drop from an average of 9.9 percent to 8.1 percent, will apply to goods from
Brunei,
Indonesia,
Malaysia,
Myanmar,
Singapore and
Thailand.
The tariffs are applied to approximately 7'000 products including steel products.
SteelOrbis had previously reported about
China's plan to reduce tariffs on
28 June 2005.