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China Slashes Tariffs

Skin care charges drop to 2%.

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By: TOM BRANNA

Editor

Doing business in the world's No. 2 economy isn't easy, but things just got a bit better. Next month, China will slash import tariffs on consumer goods including skin care products, Western-style clothes and diapers. The move is expected to boost global brands, even as it bolsters domestic consumption amid faltering economic growth. The Ministry of Finance said in a statement, it would lower import taxes for some products starting June 1 by an average of over 50% as an “important...

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