Analysts at TD Securities note that China has announced a cut in import tariffs on 859 items from Jan 1 2020, but is not related to the US-China trade talks or Phase 1 trade deal.
Key Quotes
“According to China’s State Council, New Zealand, Peru, Costa Rica, Switzerland, Iceland , Singapore, Australia, South Korea, Chile, Georgia, and Pakistan will benefit from tariff reductions.”
“From July 1 2020 tariffs on goods from Switzerland and Asia-Pac will be further reduced. These tariffs reductions are being undertaken to meet domestic consumption needs eg in Pork, with the impact of African Swine Disease severely impacting domestic supply.”
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