US cuts tariffs on Chinese goods to 30% for 90 days

Cargo port in Qingdao, Shandong province (China). (Photo: THX/TTXVN)

According to the latest sources, the US and China have reached an agreement on reducing tariffs on each other's goods after delegations from the two countries just concluded two days of high-level negotiations in Geneva (Switzerland) over the weekend.

Specifically, the US reduced tariffs on Chinese goods from 145% to 30% within 90 days. In return, China reduced tariffs on US goods from 125% to 10% within the same period.

Speaking to reporters in Geneva, US Treasury Secretary Scott Bessent also announced that the two countries had reached an agreement to reduce reciprocal tariffs by 115% within 90 days.

The information was released in the context of high-level negotiations between officials of the two countries on trade and tariffs in Geneva, which have made positive progress.

The joint statement after the meeting noted the importance of the bilateral economic and trade relationship to both countries as well as the global economy.

Both the US and China affirmed the need for a sustainable, long-term and mutually beneficial economic and trade relationship./.

According to Vietnamplus

Source: https://www.vietnamplus.vn/my-giam-thue-doi-voi-hang-hoa-trung-quoc-xuong-con-30-trong-90-ngay-post1038053.vnp

Source: https://baolongan.vn/my-giam-thue-doi-voi-hang-hoa-trung-quoc-xuong-con-30-trong-90-ngay-a195105.html