China will negotiate with American companies and increase imports of U.S. goods and products according to market principles.
'The country’s prevailing economic condition warrants tough decisions'
The services’ imports into the country during the period under review decreased by 19.54 percent to US $ 5.775 billion from US $ 7.178 billion last year.
'The imports after witnessing a decrease by eight per cent were recorded at the level of $40.46billion'
The total food imports into the country during the first seven months of current year were recorded at $3464.490 million
Economic analysts said that higher regulatory duty on non-essential items had resulted in curtailing influx of imported goods.
ISLAMABAD: Government’s policy measures have resulted in shrinking of trade deficit, decline in imports and increase in exports which augurs well for overall balance of payment of the country. The trade deficit that stood at US$ 17.7 Billion in July- December 2017 has shrunk by 5 percent to US$16.8 billion in the corresponding period in 2018, the Press Information Department reported on Friday. The overall imports from July-December 2018 have shrunk by over 2 percent from US$ 28.7 billion in July – December 2017 to US$…
ISLAMABAD: The Senate was informed on Friday that the government had increased import duties to cut imports. Adviser to Prime Minister on Commerce and Textile Abdul Razzaq Dawood told the house during question hour that import substitution policy had also been launched in order to increase domestic production and exports. He said duties on raw material would be reduced to support and strengthen the manufacturing sector. Razzaq Dawood said oil import substitution was a long term policy. He said refining capacity of…
BEIJING: China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute. The tariffs will be activated on Aug. 23, the ministry said, the same day that the United States plans to begin collecting 25 percent extra in tariffs on $16 billion in Chinese goods. The United States published its final list of goods subject to the new tariffs on…