China Cuts Tariffs on Imported Consumer Goods: Baby Food and Wine Subject to Significant Reductions

According to an announcement released by Ministry of Finance on November 22, 2017, China is to cut import tariffs on 187 consumer products, with an average decrease of roughly 10% (17.3% to 7.7%). The new policy will take effect on December 1, 2017. Altogether 33 food items will be subject to new favorable tariffs, including cheese, special infant formula, wine, other retailed-packaged food for infant and young child, and etc.