Foreign media reported today (May 12th): "China and the United States will significantly delay the tariffs imposed on each other's goods for 90 days. The US tariff on China will be reduced from 145% to 30%, and China's tariff on the US will be reduced from 125% to 10%."
The agreement reached by China and the US to simultaneously reduce tariffs significantly is good news for the whole world, indicating a turning point in Sino-US relations. The US retaining a 20% tariff related to fentanyl is more of a political consideration. This issue has been thoroughly discussed during the negotiations, demonstrating that both sides are striving to balance the easing of economic and trade relations with their own demands. China's setting of a 10% tariff also reflects the principle of parity and reasonable protection of its own industries. This adjustment of tariffs is expected to promote bilateral trade and inject positive signals into the global economy.
Source: https://www.toutiao.com/article/1831905170260167/
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