2 hrs ago
US and China Release Lists for Planned Tariff Cuts
The United States and China agreed to reduce some taxes on imported goods.
They released lists showing which products are included.
The goods on the lists are worth about $30 billion.
China listed 77 products from the United States.
The United States listed 1,619 products from China.
China said about 90% of the covered products would receive lower tariffs.
The new tariffs would be reduced to most-favored-nation rates for those products.
The countries did not say exactly how large the tariff cuts would be.
The United States and China released lists of goods covered by planned tariff cuts.
The goods covered are worth about $30 billion in total.
China’s list contains 77 products, while the US list contains 1,619 products.
China’s Ministry of Commerce said about 90% of covered products would have tariffs reduced to most-favored-nation rates.
Neither country provided details on how much the tariffs would be reduced.
- Who
- The United States and China, including China’s Ministry of Commerce.
- What
- They released lists of goods covered by planned tariff reductions.
- Where
- The arrangement concerns trade between the United States and China.
- When
- The article does not specify when the lists were released.
- Why
- The article does not specify the reason for the tariff cuts.
Key facts
- Total goods value
- About $30 billion
- Chinese product list
- 77 products
- US product list
- 1,619 products
- China’s stated coverage
- About 90% of products covered by the reciprocal arrangement
- Planned tariff level
- Most-favored-nation rates for about 90% of covered products, according to China’s Ministry of Commerce
- Tariff-cut size
- Not specified by either country
Sources
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