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US, China Reach Agreement, Cut Tariffs
The New Indian Express Kottayam
|May 13, 2025
The ice has been broken between the US and China as the two countries on Monday decided to sharply reduce tariffs on most of the goods for 90 days (starting May 14).
After two days of deliberations in Geneva, the two countries have reached an agreement under which the US will cut tariffs on Chinese imports from 145% to 30%, while China will cut duties on US products from 125% to 10%. These reductions will not affect any sector-specific tariffs or exemptions that existed prior to April 2, 2025.
This story is from the May 13, 2025 edition of The New Indian Express Kottayam.
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