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.

What is the primary reason for China's decision to lower tariffs on over 850 items?

• To reduce domestic production

• To increase government revenue

• To boost imports amid a slowing economy

• To increase exports

Which of the following items is NOT mentioned as part of the tariff reduction?

• Frozen pork

• Fresh vegetables

• Non-frozen orange juice

• Pharmaceutical products

What has caused a significant shortage of pork in China?

• Natural disasters

• Increased exports

• African swine fever

• Government regulations

What recent development in trade relations is mentioned in the transcript?

• Increased tariffs on US goods

• A complete trade embargo

• A phase one trade agreement between China and the US

• A new trade war

What is the expected outcome of the phase one trade agreement between China and the US?

• End of the 18-month trade war

• Continuation of the trade war

• Increase in tariffs

• No significant changes