China to adjust tariff rates on U.S. goods from May 14, says country's finance ministry
Published: 14 May. 2025, 09:13
![Chinese and U.S. flags flutter outside the building of an American company in Beijing, China, April 8. [REUTERS/YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/05/14/0f6894da-6816-4ed8-9ebf-b3dfed172f3f.jpg)
Chinese and U.S. flags flutter outside the building of an American company in Beijing, China, April 8. [REUTERS/YONHAP]
China will lower its tariffs on U.S. goods to 10 percent for an initial 90 days starting from 12:01 p.m. on Wednesday, the Chinese finance ministry said in a statement on Tuesday.
The ministry said it would reduce the 34 percent duties on U.S. goods to 10 percent it imposed last month and cancel the additional 91 percent rate in two later rounds of measures.
"The significant reduction in bilateral tariffs between China and the United States aligns with expectations of producers and consumers in both countries, and is conducive to economic and trade exchanges between China and the United States and to the global economy," read the statement.
Reuters
with the Korea JoongAng Daily
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