China, tariffs
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Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.
Low-cost packages imported to the United States by China that were historically exempted from paying dues have been provided some relief from steep tariffs the Trump administration placed on Beijing.
China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.
China has removed its ban on airlines accepting Boeing planes after Beijing and Washington agreed to temporarily reduce the steep tariffs on one another.
The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.
WASHINGTON (AP) — Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
Negotiators from both sides have agreed to establish a dialogue mechanism for further talks, and US President Donald Trump says he will speak to his Chinese counterpart Xi Jinping soon.
There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.