The United States and China on Monday announced an agreement to significantly reduce tariffs for 90 days while trade negotiations continue after top American and Chinese officials met in Switzerland over the weekend. The deal means that President Donald Trump’s 125% reciprocal tariff on China will be reduced to 10%, with a 20% fentanyl tariff …
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The United States and China on Monday announced an agreement to significantly reduce tariffs for 90 days while trade negotiations continue after top American and Chinese officials met in Switzerland over the weekend.
The deal means that President Donald Trump’s 125% reciprocal tariff on China will be reduced to 10%, with a 20% fentanyl tariff still in place, a significant drop from the 145% tariff placed on Chinese goods in the last few weeks. China will drop its retaliatory tariffs on the United States from 125% to 10%. The reductions are to be in place by Wednesday, May 14.
