The Chinese government has instituted a third round of import tariff reductions as part of wider efforts to reflate the economy. Imports of the 706 products covered will see an average reduction in tariffs to 2.5% from 6.6%. The aggregate value of tariff reductions – defined as import value in 2017 times tariff rate reduction – could be worth as much as $11.6 billion. The products targeted represent a wide range of industrial and consumer products. The largest tariff reductions in dollar terms include light fuel oils where rates have been cut to zero from 9.0%, reducing the burden to imp...