US and China announce significant reduction in tariffs: both sides cut tariffs by as much as 115%.

[US and China Slash Tariffs by 115%] On May 12th, US Treasury Secretary Bessent stated at a press conference that within the next 90 days, tariffs from both sides of the US and China will be slashed by 115%. Specifically, the US will reduce tariffs on Chinese goods from 145% to 30%, while China will cut tariffs on American goods from 125% to 10%. A mutual tariff of 24% between the two countries will be suspended for 90 days.

Tariffs between the US and China are reduced by over 100%.

Original article: https://www.toutiao.com/article/1831902679553024/

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