Countries to lower reciprocal tariffs by 115% as US treasury secretary says ‘neither side wants a decoupling’
China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115%.
The 90-day lowering of tariffs applies to the duties announced by Donald Trump on 2 April, which ultimately escalated to 125% on Chinese imports, with Beijing responding with equivalent measures.
China also imposed non-tariff measures, such as restricting the export of critical minerals that are essential to US manufacturing of hi-tech goods.
There are already a bunch of companies who got $10,000+ tarriffs bills for products they ordered months before tarriffs were intoruced, before Trump was even in office.
Why would they order more stuff for the tarriffs to come back In 4 months and fuck them over again?
It’s based on when it clears customs. Not when it was ordered, shipped, or arrives at port. Considering how long it’ll take to get ports back up and running after a shut down, nothing is getting processed within the next 90 days.