BUSINESS

China begins reducing tariffs on 201 technology goods

By 임정요
  • Published : Sept 25, 2016 - 14:18
  • Updated : Sept 25, 2016 - 14:18

China has begun reducing its tariffs on a range of technology goods imported from World Trade Organization members, South Korea's customs authorities confirmed Sunday.

On Sept. 15, China started reducing import tariffs on 201 technology goods under the Information Technology Agreement of the WTO, according to the Korea Customs Service. China will 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 a bilateral free trade agreement between South Korea and the United States.

As China began reducing import tariffs on TV cameras and set-top boxes for satellite TVs, South Korean makers of the products are expected to benefit from the tariff reduction.

The KCS posted a list of the technology goods on its website and recommended relevant companies to check the list. (Yonhap)