U.S. Plans on Unchanging Chinese Tariffs
(MENAFN) Commerce Secretary Howard Lutnick confirmed on Wednesday that American duties on Chinese imports will stay at their existing levels as trade discussions between Washington and Beijing continue without a finalized agreement.
When questioned on a show about whether U.S. tariffs on China would remain the same going forward, Lutnick answered, "You can definitely say that."
He expressed satisfaction with the current circumstances, stating, "We are in a very good position. We like the way things are working out with China."
On his Truth Social platform, Leader Donald Trump declared that the United States “is getting a total of 55% tariffs, China is getting 10%.”
He also emphasized, "Full magnets, and any necessary rare earths, will be supplied, up front, by China," and added, "Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!)."
Lutnick elaborated that the 55 percent tariff package includes a 20 percent levy on fentanyl, a 10 percent retaliatory duty, and the 25 percent rate implemented during Trump's initial presidency.
Bilateral trade talks between the globe’s two largest economies concluded in London on Wednesday.
Trump announced that a trade accord "is done," awaiting final endorsement by the leaders of both nations. He further noted, "Relationship is excellent!"
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
