US-China agree to cut tariffs, 90-day pause
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3hon MSN
Diane Brady talks to the CEOs of Stryker, Sentry Equipment and the U.S. Chamber of Commerce CEO about how they’re handling the 90-day pause in the trade
President Donald Trump said last month that tariffs were bringing in $3 billion a day. Net of refunds, the April total came to $15.6 billion, or an average of $521 million a day.
American businesses that rely on Chinese goods reacted with muted relief Monday after the U.S. and China agreed to pause their exorbitant tariffs on each other's products for 90 days. Importers still face relatively high tariffs,
In April, the U.S. placed an additional 125% tariff on top of an existing 20% rate for some Chinese goods. China responded by adding a 125% tariff on American products. Those elevated rates didn’t last long.
Kansas City business owners said the move to lower tariffs with China does not help them plan for future sales later this year.
Despite the de-escalation of the tariff war between the United States and China, uncertainties still linger in the economy as negotiations continue to take place during the 90-day pause.