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Luxury Labels Lower Prices in China in Response to Tariff Reduction

Beijing’s decision to reduce tariffs on consumer goods has prompted luxury brands selling in China to trim their prices there. As May was winding down, China’s State Council, what’s called a Cabinet in the U.S., slashed tariffs on clothing, shoes and headwear from 15.9% to 7.1% starting July 1, a move designed to stimulate global…

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