China’s import tariff cut on IT goods to benefit South Korea

[THE INVESTOR] China has begun cutting down its tariffs on a range of technology-related goods imported from World Trade Organization members, which is expected to benefit Korean manufacturers that export their goods to the country. 

Beginning on Sept. 15, China started reducing import tariffs on 201 technology goods under the Information Technology Agreement of the WTO, the Korea Customs Service confirmed on Sept. 25. China plans to eliminate import duties on the goods over the next three to seven years. 

The technology goods included TV cameras and set-top boxes for satellite TVs, which are not covered by the China-South Korea free trade agreement. 

The KCS posted a list of technology goods that fall under the measure on its website and advised local producers to check the items.

(theinvestor@heraldcorp.com)