The reductions follow American tariff cuts last month on Chinese goods. There was no indication Beijing altered its own cuts in response to the rising cost of efforts to contain a virus outbreak that have depressed business activity by closing factories, restaurants and shops.“The next steps depend on the development of the Chinese-U.S. economic and trade situation,” said a Ministry of Finance statement.
The tax rate on some 916 items including soybeans, pork and fish was cut from 10 percent to 5 percent, effective Feb. 14, the ministry said. The rate for 801 items including auto parts will be cut from 5 percent to 2.5 percent. Washington hiked tariffs on Chinese goods in 2018 in response to Beijing's multibillion-dollar trade surplus and complaints it steals or pressures companies to hand over technology. China retaliated by increasing duties on American goods.
Under the “Phase 1” deal in October, Washington canceled planned additional tariff hikes and Beijing committed to buy more U.S. farm exports. However, most tariff hikes imposed previously by both sides on billions of dollars of each other's good are still in place.
Thank you china
China you are awesome I hv always wanted to go to China I always make a joke on how I was made in China 🇨🇳
Okay
the US should reciprocate....i know they are wondering why did corona outbreak start just after Trump signed the agreement... Tarrifs could have worked better that now that markets in China and Asia are at free fall
Trump takes credit despite corona virus causing China to start flow of food.
Starts in 2021
Wonder what it'll cost us in the long run, what Allies will be murdered next or who's Country will China invade, or will China murder all of the sick people in Military Guarded Hospitals (built in weeks), got to wonder if they are powered by gas...
Obviously Trump will take credit for this as a real Victory.
Lol . How much you think it hurt they fells to post this BWAAA HAAAA HAAAA HAAAA HAAAA HAAAA HAAAA HAAAA HAAAA HAAAA
Desperate
Winning!
Oh, look at that! The bio-weapons are working! To quote DJT 'This will turn out very well for us.'
Wow !! NON STOP WINNING I TELLS YOU !! MAGA WWG1WGA