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China reduces duties on American goods

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China reduces duties on American goods
February 06
13:00 2020

Official Beijing has announced that import duties on goods, the total value of which is $ 75 billion, will be reduced in the near future. It is about American imports. In fact, the decision revises the duties that were imposed last autumn. We recall that they were introduced in response to an increase in tariffs on Chinese goods from the United States.

Already on Friday, February 14, official Beijing will reduce additional 10 %  and 5 % duties by exactly two times.

A press release, which was published regarding this issue, states that the tariff cut should help strengthen economic and trade relations between countries.

We recall that in mid-January, there was a signing of the agreement on the first phase of the settlement of the trade dispute between China and the United States. Under its terms, the PRC is obliged to increase the import of American goods, while the States will reconsider plans to introduce additional duties on Chinese goods.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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