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China Aims To Cut Tariffs For Trade Deal

China will cut import tariffs for pharmaceuticals and some high-tech components from next year, a move that comes as Beijing and Washington are trying to complete a phase-one trade deal. Chinese cabinet has approved this plan, which will lower tariffs for all partners on more than 859 types of products to below the rates that most favored nations enjoy. Most favored-nation rates are the lowest possible tariffs a country offers to its trading partners.

source: The Wall Street Journal