U.S.-China: agreed tariff cut in bilateral trade
At the end of last October, the United States and China reached an understanding. With an initial validity of one year and immediate implementation, Donald Trump and Xi Jinping agreed to reduce by 10% the tariff associated with fentanyl on Chinese imports, with the possibility of extension.
The cut adjusted the average tariff to 47% for a large share of Chinese products, including footwear, entering the United States, representing a 10% reduction.
For its part, China agreed to resume soybean purchases, postpone restrictions on rare earth exports and monitor fentanyl trade.