Washington plans to reduce customs duties on China

This article was automatically translated from HIBAPRESS, the Arabic version:

Hibapress

President Donald Trump’s administration plans to reduce customs duties imposed on China with the aim of appeasing the trade war between the two largest economies in the world, according to US officials cited on Wall Street Journal Wednesday.

Currently estimated at more than 145% for several Chinese products, American customs tariffs could be reduced by half, add these White House officials on condition of anonymity.

According to the large draw, these prices could soon be brought back between 50% and 65%. The United States also envisages a several level approach providing for a 100% tax for articles considered to be strategic for the interests of America, and one of 35% for products without strategic scope.

The American president said on Tuesday that he was ready to reduce customs duties on Chinese products, saying that 145% taxes he had imposed on China “are too high”.

“145% is too high, and it will not be so high,” Trump told the press in the oval office. The new prices “will not be so high. They will decrease considerably. But it will not be zero,” he added.

For his part, the American secretary to the Treasury, Scott Bessent, said that discussions on a possible trade agreement between the United States and China are “always possible”, noting that such a deal requires “direct discussions” between the presidents Trump and Xi Jinping, according to the WSJ.