Gov­ern­ment to cut some steel tar­iffs

China Daily (Canada) - - BUSINESS -

China will cut tar­iffs on some steel prod­ucts next year, suc­cumb­ing to pres­sure from wors­en­ing do­mes­tic over­sup­ply and risk­ing in­creased trade fric­tions as ship­ments surge to their high­est ever from the world’s big­gest pro­ducer. The coun­try will slash ex­port tar­iffs on high-pu­rity pig iron to 10 per­cent and some steel bil­lets to 20 per­cent on Jan 1, down from a tem­po­rary rate of 25 per­cent this year, theM­i­nistry of Fi­nance said on Wed­nes­day in a state­ment pub­lished on its web­site.

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