U.S., China Agree to Large Tariff Cuts
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China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.
The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.
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The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously — could help restore some confidence.
GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.
The Trump administration and China have agreed to slash tariffs for the next 90 days in a push to deescalate a trade war between the two countries.
China has taken aim at a new U.S. rule against use anywhere in the world of Ascend computer chips made by Huawei Technologies.
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China suspends some non-tariff countermeasures after US trade talksChina on Wednesday said it was suspending some non-tariff countermeasures against the United States, in another de-escalation of the trade war with Washington following high-level talks in Switzerland.
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The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.
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.
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