US and China slash tariffs

The deal was hashed out by US and Chinese officials in Geneva over the weekend, and will see the US reducing duties on Chinese imports from 145 percent to 30 percent, and China lowering tariffs on US goods to 10 percent, down from 125 percent. This new agreement doesn’t change the removal of the de minimis exception on May 2nd, which closed the tariff loophole that allowed businesses like Temu and Shein to import low-value goods into the US without paying any duties at all. ... Read full article.