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  • America and China agree on a 115% tariff reduction

    America and China agree on a 115% tariff reduction

    The United States and China have agreed to reduce tariffs by 115% starting May 14 for 90 days. The agreement was reached when representatives from both countries met in Geneva, Switzerland, yesterday. The United States currently only imposes a 30% import tariff on China while China only imposes a 10% tariff. So, what should you know about it?