China cuts some tariffs — but does not address US complaints
“BEIJING (AP) — China announced more tariff cuts Wednesday on imports of construction machinery and other goods, but took no action to address the U.S. complaints about its technology policy that are fueling an escalating trade battle.
The move reflects the Chinese government’s desire to stick to plans to make the economy more competitive and its intention to press on with state-led development of industry. It gave no indication the reductions would apply to U.S. goods, on which Beijing has imposed additional taxes of 5 to 25 percent.
The tariff cut, effective Nov. 1, applies to 1,585 types of goods including construction equipment, industrial machinery, paper products and building materials. It is the second reduction in less than a year following a cut last November for food and consumer goods.”