Tariff cuts will spur Asian trade

Countries in region work to ease impact of protectionist moves

China unveiled a plan to remove or reduce import tariffs on goods including soybeans and precision instruments from several Asian countries, a move experts said will further facilitate trade activities and better defend the multilateral trading system.

A total of 8,549 types of goods originating in India, South Korea, Bangladesh, Laos and Sri Lanka will have tariffs reduced or cut to zero. The goods include chemicals, agricultural and medical products, clothing, steel and aluminum products under the second amendment of the Asia Pacific Trade Agreement, the Customs Tariff Commission of the State Council announced on Tuesday.