US to cut 'de minimis' tariff on China shipments to 54% from 120%
The United States would cut the low value "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain, starting from May 14, modifying an earlier order imposed by Washington, a White House executive order said on Monday.
The move comes several hours after Beijing and Washington announced a truce in their trade war, with both sides agreeing to unwind most of the tariffs imposed on each other's goods since early April.
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