A few days after the reduction of import duties by China, India reduced import duties for 3,142 goods from China and five other countries in the Asia-Pacific region, according to Business Standard. Both countries have lowered tariffs as part of their commitments to further liberalize trade, according to the Asia-Pacific Trade Agreement. The reduction in tariffs, which began on July 1, will improve India's trade not only with China, but also with South Korea, Sri Lanka, Bangladesh and Laos. China since July 1 reduced import duties on almost 1.5 thousand consumer products from cosmetics to household appliances.
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