BEIJING (Reuters) – China’s finance ministry said on Monday that it will adjust import and export tariffs for some products starting from Jan. 1.

It will not levy export tariffs on 94 products including fertilizer and iron ore, the ministry said in a statement on its website.

For imports, China will levy temporary tariffs on more than 700 items and maintain relatively low import tariffs for aircraft engines, the ministry added.

China will also further cut most favored nation tariffs on 298 information technology products from July 2019. The statement did not give details.

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