Tariffs for imports to be lowered next year
Pub Date:2020-12-24 08:39
Source:China Daily
China will reduce or cancel tariffs on certain imported goods and
materials starting in 2021 in a bid to expand imports, boost the
domestic market and support the formation of high-standard free trade
areas under the country s new dual-circulation development paradigm,
according to the Ministry of Finance.
The new interim tariff rates on imports, which will be lower than
Most Favored Nation tariff rates, will apply to 883 kinds of goods as of Jan 1, including foods, medicines and information technology products,
the Office of the Customs Tariff Commission of the State Council, which
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[co-author: Ariana Stobaugh ]
On September 13, 2020, President Trump issued an Executive Order (the “Executive Order”) directing the Department of Health and Human Services (“HHS”) to issue regulations instituting two most-favored-nations (“MFN”) payment models – one model for prescription drugs covered by Part B of the Medicare program (in general terms, Medicare Part B covers drugs that are administered by infusion or injection in physician offices and hospital outpatient departments, as well as certain drugs furnished by suppliers), and a second model for prescription drugs covered by Part D of the Medicare program (Medicare Part D covers most medications that are dispensed by local and/or mail-order pharmacies and covered under a Medicare prescription drug plan).
Tariffs for imports to be lowered next year--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
From:ChinaDaily | 2020-12-24 06:55
China will reduce or cancel tariffs on certain imported goods and materials starting in 2021 in a bid to expand imports, boost the domestic market and support the formation of high-standard free trade areas under the country s new dual-circulation development paradigm, according to the Ministry of Finance.
The new interim tariff rates on imports, which will be lower than Most Favored Nation tariff rates, will apply to 883 kinds of goods as of Jan 1, including foods, medicines and information technology products, the Office of the Customs Tariff Commission of the State Council, which is based in the ministry, announced on Wednesday.