China is set to halve retaliatory tariffs on hundreds of U.S. goods worth about $75 billion.
Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China's Ministry of Finance. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.
Retaliatory tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China's Ministry of Finance. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to. The statement on the Ministry of Finance website said the move was made in order to "advance the healthy and stable development of China-U.S. trade." A separate article on the website noted the cut in tariffs was timed in conjunction with a U.S. decision in January to halve tariffs on Feb. 14 for $120 billion of Chinese goods — from 15% to 7.5%.
One analyst says this development could be a sign that China is ready to move on beyond the so-called phase-one trade agreement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China to cut tariffs on $75 billion in US importsChina says it will halve punitive tariffs on $75 billion in US imports from February 14, a month after Beijing and Washington signed a truce in their long-running trade war
Read more »
Treasury yields tick higher after China halves tariffs on $75 billion worth of US goodsU.S. government debt prices were lower Thursday morning, after China announced it would halve tariffs on $75 billion worth of U.S. imports.
Read more »
China to Cut Tariffs on $75 Billion of U.S. GoodsBeijing said it would slash tariffs on $75 billion of U.S. imports in half as part of its efforts to implement a recently signed trade agreement with Washington.
Read more »
China cuts tariffs on $75 billion of U.S. imports in trade truceChina cut tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts Thursday in a trade truce with Washington while Beijing struggles with the costly coronavirus outbreak.
Read more »
China halves tariffs on $75 billion worth of US goods, as coronavirus outbreak escalatesChina announced on Thursday that it will halve additional tariffs on $75 billion worth of US imports, as the world's two largest economies continue to step back from a years-long trade war that has hurt both countries and dented global growth.
Read more »