In an exciting move, the Chinese mainland is set to reduce the additional tariffs on products imported from the United States from 34% to 10%, effective from 12:01 p.m. on May 14. This decision follows high-level meetings between China and the United States over the past weekend.
Moreover, the existing 24% tariff on U.S. goods will be paused for 90 days, and the additional tariff measures outlined in Announcement No. 5 [2025] and Announcement No. 6 [2025] will be terminated simultaneously.
This substantial adjustment meets the expectations of producers and consumers in both regions and is expected to foster stronger bilateral trade relationships, benefiting the global economy. 🚀🌍
Reference(s):
cgtn.com
