During a China State Council executive meeting held on May 30th it was decided to further lower import tariffs on consumer goods by a considerable margin, starting from July 1st this year. Under the old conditions, cosmetics exported to China were subject to 30% consumption tax and 16% VAT and import tariffs (depends on the country of origin). Import tariffs levied on skin care products reduced by 60% on June 1st 2015 (see CL news). Import tariffs on cosmetics were further reduced in 2016 (see CL news) and 2017 (see CL news). This will be the 4th time China has reduced import tariffs in recent years.
Specifically, the average import tariff rate on cleaning products, cosmetics such as skin care and hair styling products and some healthcare products will be reduced from 8.4% to 2.9%. Additionally, the average import tariff rate on clothing, shoes and hats, kitchenware and sporting products will be reduced from 15.9% to 7.1%; the average import tariff rate on household appliances such as washing machines and refrigerators will be reduced from 20.5% to 8%; the average import tariff on processed foods such as aquatic products and mineral waters will be cut from 15.2% to 6.9%.
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