The latest announcement is China’s first response to the Phase One trade deal. China’s Ministry of Finance said that it would essentially halve the tariffs it placed on 1,717 goods it imports from the U.S. back in September, including American cars, crude oil, soybeans and other goods. Chinese tariffs also still remain on some $35 billion worth of U.S. goods. Further reading: U.S., China Reach Initial Trade Deal, But Is It As ‘Amazing’ As Trump Claims? Stocks Hit Record Highs As U.S. Signs Phase One Trade Deal With China

Source: Forbes February 06, 2020 14:37 UTC