Countries to lower reciprocal tariffs by 115% as US treasury secretary says ‘neither side wants a decoupling’

China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115%.

The 90-day lowering of tariffs applies to the duties announced by Donald Trump on 2 April, which ultimately escalated to 125% on Chinese imports, with Beijing responding with equivalent measures.

China also imposed non-tariff measures, such as restricting the export of critical minerals that are essential to US manufacturing of hi-tech goods.

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[–] 3 points 1 year ago (1 child)

trump is a capitalist. china is capitalist. what are you talking about?

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