|
BEIJING (AP) - China announced Tuesday it will cut tax rebates on exports of clothes, shoes and other goods in an effort to slow the growth of its huge trade surplus amid rising threats of punitive action by U.S. lawmakers.
The move also is meant to slow exports of cement and other goods deemed too energy-intensive or polluting, the Finance Ministry said on its Web site.
Rebates of value-added taxes will be eliminated on July 1 on 553 categories of goods including salt, cement and fertilizers, the ministry said. It said rebates will be cut on 2,268 types of products including shoes, clothing and plastic goods.
|