In June, Tariff Policy Department of China Ministry of Finance announced that starting from July 1^st, 2018, China will slash duties on 8549 imported goods originating from South Korea, India, Bangladesh, Sri Lanka and Laos in accordance with the conventional tariff rates specified in the “Second Amendment to the APTA”. Right after China’s announcement, India announced tariff reductions on 3142 imported commodities including 26 cosmetic products. The tariff concessions policy has also been effective from July 1.