By Se Younger Lee and Yawen Chen
By Se Younger Lee and Yawen Chen
BEIJING, Feb 6 (Reuters) – China stated on Thursday it should halve further tariffs levied towards 1,717 merchandise imported from the USA final yr, following the signing of a Part 1 commerce deal that introduced a truce to a bruising commerce warfare.
China’s finance ministry stated in an announcement that tariff reductions for the related items, which had been initially introduced on Sept. 1, will take impact from 0501 GMT on Feb. 14.
The reductions come about three weeks after the 2 nations signed the Part 1 commerce deal in Washington, which included China’s promise to spice up purchases of U.S. items and companies by $200 billion over two years in trade for the USA rolling again some tariffs imposed towards Chinese language items.
China’s finance ministry stated in an announcement that further tariffs levied on some items shall be reduce to five% from 10% beforehand, whereas additional tariffs on some items shall be lowered to 2.5% from 5% beforehand. The ministry didn’t state the worth of the products which might be affected by the choice.
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