China To Lower Import Tariffs On Slew Of Goods Beginning Jan. 1

China's finance ministry announced a reduction in tariffs on over 850 items starting January 1st to boost imports amid a slowing economy. The items include daily consumer goods like non-frozen orange juice, pharmaceuticals, and frozen pork. This move comes as China faces a severe pork shortage due to African swine fever, which has killed over a million pigs. Additionally, a phase one trade agreement between China and the US was announced, with President Trump stating a breakthrough has been achieved, potentially ending the 18-month trade war.

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