ShippingWatch

China to halve tariffs on USD 75 billion US goods from February 14

China will introduce tariff cuts on goods worth nearly USD 75 billion on Feb. 14. The cuts reciprocate a US action and is likely part of the interim trade deal entered between the two global economies.

Photo: AP/Ritzau Scanpix

China will halve tariffs on some USD 75 billion of imports from the US later this month, reciprocating a US action and likely satisfying part of the interim trade deal.

The cut will be effective from 1:01 p.m. on Feb. 14, Beijing time, according to a Ministry of Finance statement on Thursday, the same time as when the US will implement reductions in tariffs on Chinese products. Punitive Chinese tariffs on American goods that were adopted from Sept. 1 last year will be lowered, with the rate on some dropping to 5 percent from 10 percent, and the others to 2.5 percent from 5 percent.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. In a short period of time, Poseidon will reassess its ambition.

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Further reading

Related articles

Trial banner

Latest news

See all jobs