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China to slash import tariffs for 1,449 items of consumer goods

China will cut by more than half its most-favored-nation, or MFN, tariffs for 1,449 taxable items of daily consumer goods starting July 1, Xinhua News Agency reported June 1, citing a State Council statement.

The average MFN tariff will be reduced to 6.9% from 15.7%. This represents an average tariff reduction of 55.9%, said the Customs Tariff Commission of the State Council.

The move will effectively abolish MFN temporary duties for 210 taxable items of imported goods, the report said.

An MFN tariff is what World Trade Organization member countries pledge to impose on trading partners who are also WTO members, unless the country has a preferential trade agreement.

Reducing the import tariffs on daily consumer goods is a "major measure" in China's push to widen market access, an unnamed Customs Tariff Commission official said in the statement cited by Xinhua.

On May 30, the State Council decided to further slash import tariffs on a range of consumer goods, including imported clothing, washing machines and cosmetics also effective July 1.

The tariff reductions come amid ongoing U.S-China trade negotiations and as Washington is set to impose 25% tariffs on $50 billion of goods from China.