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China will halve some duties on goods from the US

China will halve some duties on goods from the US

Photo: Imago
China reduces duties on American goods

Additional tariff rates for some goods imported from the United States will be reduced by about $75 billion.

China has decided to reduce duties on goods from the United States with a total value of $75 billion. It will concern the increased duties introduced in September 2019 in response to an increase in tariffs in the United States for Chinese goods. On Thursday, February 6, reports Xinhua.

So, from February 14, an additional 10 percent duty on imports from the United States will be reduced to 5%, and 5 percent to 2.5%.

The decision was made in order to promote “healthy and stable development of Shina-US economic and trade relations,” Xinhua quoted the press release of the committee. Officials hope that both parties will comply with the agreements reached.

Recall, on January 15, US President Donald Trump and Deputy Prime Minister and Deputy Prime Minister of the State Council signed an agreement on the first phase of the settlement of the trade dispute between the countries. It provides that Beijing will increase imports of goods from the United States by at least $200 billion over two years, and Washington will not impose additional restrictions on imports from China for this.

Also in the United States revealed the contents of the second part of the trade deal with China.

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