According to a report by Bloomberg
- China plans to cut the average tariff rate that it charges on imports from majority of its trading partners
- China's most-favoured nation (MFN) average tariff stands at 9.8% currently
No other details given on what range of products or the size of the cuts that will be taking place from the report. But this has been an ongoing affair throughout 2018 as China has been taking steps to further open its consumer market. The last cut in tariffs was on 1 July and it covered a range of 1,500 products.
