TARIFF DROP TO 10%!!! USA & China agree to 90 Day reduction of tariff to negotiate trade differences

The U.S. and China on Monday agreed to temporarily suspend most tariffs on each other’s goods in a move that shows a major thawing of trade tensions between the world’s two largest economies.

The trade agreement means that “reciprocal” tariffs between both countries will be cut from 125% to 10%. The U.S.′ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%.

Sources:
- https://www.youtube.com/watch?v=C3wtr4dIaeM
- https://www.straitstimes.com/world/united-states/china-tariff-relief-spurs-shipping-rush-u-turn-on-price-hikes

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