China Considering Reducing Import Tariffs This Year

China is considering reducing import tariffs this year, Premier Li Keqiang said March 15.

The idea that China authorities want to block foreign companies from the Chinese market was “misunderstood,” he said, speaking on the final day of the National People’s Congress. China wants to encourage imports, particularly in advanced technology, he said, and would “strictly protect” intellectual property rights.

He told reporters that the government wanted to increase the supply of quality products for Chinese consumers and may “consider reducing tariffs” to encourage imports.

Strong Reassurance.

The statement is encouraging news for U.S. companies, according to Wang Huiyao, ...