Trump reduces tax on cheap imports from China

is a news editor with over a decade’s experience in journalism. He previously worked at Android Police and Tech Advisor. Hours after announcing a 90-day mutual reduction in tariff rates with China, the White House has followed up by confirming a similar reduction on duties for cheap imports from the country. From May 14th, packages from Hong Kong and China valued below $800 will be subject to either a 54 percent tariff — down from 120 percent — or a flat $100 per-parcel fee, which hasn’t changed. Export companies retain the ability to decide whether they want their goods to be taxed at a flat rate or by percentage. Previous plans for a doubling of the flat rate to $200 from June 1st have been scrapped. The tax on goods below $800 is an effort to counter the effects of the previous “de minimis” exemption, which allowed cheaper parcels to avoid import taxes and duties. Donald Trump first announced plans for a 30 percent rate on de minimis goods, with a $25 flat fee, which was later tr ... Read full article.