Trump, China agree to slash tariffs for 90 days
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Low-cost packages imported to the United States by China that were historically exempted from paying dues have been provided some relief from steep tariffs the Trump administration placed on Beijing.
The United States and China will lift sweeping tariffs on each others' goods for 90 days on Wednesday, after a temporary ceasefire in a brutal trade war that roiled global markets and international
China has removed its ban on airlines accepting Boeing planes after Beijing and Washington agreed to temporarily reduce the steep tariffs on one another.
China and Brazil pledged on Tuesday to defend free trade and multilateralism, signing a string of agreements in Beijing to strengthen their ties amid global uncertainty triggered by U.S. President Donald Trump's import tariffs.
WASHINGTON (AP) — Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.
The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.
China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.