China cutting duties on IT products for WTO most favored nations

WTO[Reuters] China will cut import tariffs for over 200 information technology products for the World Trade Organization's (WTO) most favored nations from September 15, the Ministry of Finance said on Wednesday.

This is the first time China has cut tariffs for these products, the online statement said, adding that Beijing aims to reduce most import duties for the products on the list to zero within three to five years.

The move may be an effort by Beijing to demonstrate greater openness. China has frequently been at odds with the WTO, especially with the United States, and the trade relations between the world's two largest economies have become strained, with accusations of protectionism not uncommon.

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