<p class="title">China will reduce or cut to zero tariffs on a total of 8,549 types of goods originating in India and four other Asian countries from July 1, according to the Ministry of Finance.</p>.<p class="bodytext">The adjustment, covering products made in India, Bangladesh, Laos, South Korea and Sri Lanka, was part of the tariff concession arrangement reached under the Asia-Pacific Trade Agreement (APTA), it said.</p>.<p class="bodytext">The goods include chemicals, agricultural and medical products, clothing, steel and aluminum products. The items on the list from the five Asian countries will have a new tariff rate effective on Sunday.</p>.<p class="bodytext">"The change was decided upon as unilateralism and trade protectionism are on the rise and tensions appear in the trade relations among global economies," the state-run China Daily said, referring to the looming US-China trade war.</p>.<p class="bodytext">After the adjustment, tariffs on 2,323 categories of commodities such as certain chemicals, optical components and television cameras will be reduced, state-run Xinhua news agency reported, citing the ministry.</p>.<p class="bodytext">The move came after a new arrangement was reached during the fourth round of tariff concession negotiations among the six APTA members in January 2017.</p>.<p class="bodytext">The trade agreement, formerly known as the Bangkok Agreement, signed in 1975 and renamed in 2005, has been the oldest preferential trade agreement among economies in the Asia-Pacific region. Formed by six member countries, the trade agreement covers a population of three billion.</p>
<p class="title">China will reduce or cut to zero tariffs on a total of 8,549 types of goods originating in India and four other Asian countries from July 1, according to the Ministry of Finance.</p>.<p class="bodytext">The adjustment, covering products made in India, Bangladesh, Laos, South Korea and Sri Lanka, was part of the tariff concession arrangement reached under the Asia-Pacific Trade Agreement (APTA), it said.</p>.<p class="bodytext">The goods include chemicals, agricultural and medical products, clothing, steel and aluminum products. The items on the list from the five Asian countries will have a new tariff rate effective on Sunday.</p>.<p class="bodytext">"The change was decided upon as unilateralism and trade protectionism are on the rise and tensions appear in the trade relations among global economies," the state-run China Daily said, referring to the looming US-China trade war.</p>.<p class="bodytext">After the adjustment, tariffs on 2,323 categories of commodities such as certain chemicals, optical components and television cameras will be reduced, state-run Xinhua news agency reported, citing the ministry.</p>.<p class="bodytext">The move came after a new arrangement was reached during the fourth round of tariff concession negotiations among the six APTA members in January 2017.</p>.<p class="bodytext">The trade agreement, formerly known as the Bangkok Agreement, signed in 1975 and renamed in 2005, has been the oldest preferential trade agreement among economies in the Asia-Pacific region. Formed by six member countries, the trade agreement covers a population of three billion.</p>