US, China lower reciprocal tariffs after Geneva talks
The United States and China today announced a reduction in their reciprocal import tariffs following talks in Geneva, according to dpa.
US tariffs on Chinese imports will be reduced to 30 percent from 145 percent, while Chinese tariffs on US imports will be reduced to 10 percent from 125 percent.
The United States and China today announced a reduction in their reciprocal import tariffs following talks in Geneva, according to dpa.
US tariffs on Chinese imports will be reduced to 30 percent from 145 percent, while Chinese tariffs on US imports will be reduced to 10 percent from 125 percent.
The reduction is due to last for 90 days.
The decision was made “recognising the importance of their bilateral economic and trade relationship to both countries and the global economy,” said the joint statement published by the White House.
The world’s two largest economies wanted to move forward “in the spirit of mutual opening, continued communication, cooperation, and mutual respect,” the statement said.
- Bernama
