China, tariff and de minimis
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China, Trade War
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The Trump administration has made moves to ease tariff tensions with China, but the situation remains uncertain in the longterm.
The Trump administration has lowered the tariff on low-value shipments (under $800) from China and Hong Kong from 120% to 54%, as part of a temporary trade
The White House says the U.S. and China have agreed to suspend for 90 days most of the tariffs imposed against each other over the last couple months.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”
Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
Here's what an agreement by the U.S. and China to suspend steep tariffs for 90 days means for consumers, businesses and the economy.