China to cut tariffs in half on $75 billion of U.S. goods
China announced Thursday it will cut tariffs on $75 billion of U.S. imports by half, starting next week.
In a statement, China’s Ministry of Finance said 10% tariffs on some U.S. goods would be cut to 5%, while other goods that have faced 5% levies will have those cut to 2.5%, starting at 1:01 p.m. Feb. 14, Beijing time.
The ministry said the move was made “In order to promote the healthy and stable development of Sino-U.S. economic and trade relations.”
While the statement did not mention the current coronavirus outbreak, on Saturday the ministry suspended tariffs against some U.S. imports that could be used to help treat victims of the epidemic.
The retaliatory tariffs by China had been put into effect Sept. 1, as the U.S. similarly raised tariffs on $112 billion of Chinese goods.
3 comments:
Everyone cried that Trump was a protectionist against free trade. That was all BULLSHIT. Trump is very much for free trade, free trade that is fair and even. The man has truly separated the wheat from the chaff.
I never even considered that I would see another president like Reagan, but now I'm seeing one even greater.
The LORD is giving us a little more time so we better turn to Him now as individuals.
Trump is a delay in what seems inevitable, that people like AOC and Rashida Tlaib will take over our nation in the next 30 years.
I think the next time the demonrats win is game over for the USA. 10 years or less IMO.
Very possible we will enter into a French Revolution type of horror.
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