China to slash import taxes: Bloomberg

Woman_shopping_for_infant_formula_in_a_supermarket

Bloomberg reports on the impact of proposed cuts to Chinese import taxes. Danone and Nestle SA are big winners from this move as tariffs for some types of infant formula will fall to zero. Sales of formula are expected to grow by 15% to US$18.7 billion by 2020.

https://www.bloomberg.com/news/articles/2017-11-24/china-to-slash-import-tariffs-on-consumer-products-from-december