China Zero Tariffs For Cancer Drugs Precede High-Stakes Trade Talks

China is opening up its domestic pharma market with an import duty exemption on 28 drugs including anticancers, effective May. The duty cuts came ahead of the latest trade talks between the US and China, though Chinese officials have underscored that countries like India could also stand to gain.

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CHINA HAS SCRAPPED IMPORT DUTY ON CERTAIN DRUGS

From May, a total of 28 imported drugs can enter China with zero tariffs, including many of the main cancer medicines currently imported into the country.

The scrapping of duties came ahead of the latest broad-ranging US-China trade talks led by US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, perhaps setting the stage for a less hostile tone to begin with. Chinese Ambassador to India Luo Zhaohui tweeted that though “differences” remain, the two countries reached agreements on “some issues” in their economic and trade consultations in Beijing from May 2-3, and agreed to set up a “work mechanism” to maintain close communication

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