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US and China take a step back from sky-high tariffs, agree to pause for 90 days (apnews.com)

submitted 4 days ago by [email protected] to c/[email protected]

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U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

The U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.

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[–] [email protected] 8 points 3 days ago (1 children)

Importer here.

Here's what really bothers me about this narrative. It's not accurate. People keep throwing out numbers like 145%, 30% etc and it's wrong. Here's the true tariffs for importing something from China today, including the HTSUS codes.

9903.88.01/25% 9903.01.24/20% 9903.01.63/125%

9903.88.01 was enacted on July 6, 2018. There has never been any talk of this going away.

This is a 170% tariff. Not 145% tariff.

So even if they drop the last two tariffs of 145% down to 30%. It's still a 55% tariff on goods coming from China. Why has literally nobody in the media talked about this or anyone clarified these numbers in any public way?

Pisses me off. 55% is a huge tariff.

[–] [email protected] 5 points 3 days ago

Question: How pissed off are the people who paid their giant tariffs yesterday?