Reductions of fees between Washington and Beijing come into effect

An agreement between China and the United States to reduce some of the additional customs duties imposed between the two countries, which entered the force on Wednesday, is a negotiation in the trade war between Washington and Beijing, which has moved the global economy. Washington and Beijing have announced a very major reduction in these mutual customs duties after negotiations in Geneva last weekend.

The State Council’s Customs Foods Committee in China announced on Tuesday evening to implement customs duties for Chinese products, starting from the first minute on Wednesday. China will revise additional customs functions on American goods announced by the Customs Definition Committee in State Council No. 4 in 2025, by suspending 24 percentage points of these fees for a 90 -day basic period, 10 % of those goods are performed on those items.

China cancel additional customs duties on items previously imposed on Chinese products on April 9 and 11.

Last month, in response to mutual customs duties imposed by the United States, China increased additional customs duties to 84 percent and 125 percent respectively on imported products from the United States. The Committee said that reducing bilateral tariffs would be in line with producers and consumer expectations in both countries, contributing to the economic and commercial exchange between China and the United States, as well as the global economy.

A few hours before Washington and Beijing customs duties, US President Donald Trump announced in an interview with Fox News on Tuesday evening, reaching the United States “Framework for a very strong deal with China”. “It’s time to open China. It is part of our deal. We pay to open China. In my opinion, this is a very interesting part of the deal.” As you know, many years ago, we opened to traded the doors of the United States, now it was time to open China, “Trump said.

During the interview, Trump recognized his ability to obtain “deal with China”, “relations with them are very good.” “My relationship with President G (Xinping) is always good because of it, and it was interrupted by (Kofid) … rather, I have always had a wonderful relationship (with the president of China), and I have a lot of respect for him, and let’s see how things go.”