The White House is considering lowering tariffs for China to reduce the escalation of the trade war. This is stated in The Wall Street Journal, reports UNN.
Details
It is noted that in some cases, import duties may be reduced by more than half, while US President Donald Trump has not yet made a final decision on this.
Tariffs for China are likely to be reduced to approximately 50%-65%. The administration is also considering a multi-tiered approach, similar to the one proposed by the House Committee on China late last year: 35% tariffs for goods that the US does not consider a threat to national security, and at least 100% for goods considered strategic to American interests.
The authors also point out that the bill envisages a phased introduction of relevant fees over five years.
Let us remind you
Chinese leader Xi Jinping said that tariff and trade wars undermine the legitimate rights and interests of all countries, harm the multilateral trading system and affect the global economic order. He made this statement during a meeting with Azerbaijani President Ilham Aliyev.