Beijing (Reuters)-China and the United States announced on Monday a truce in their trade war after negotiations in Geneva that will reverse most tariffs and other contracted by Wednesday.
To 30%, while China will reduce them from 125%to 10%.
Tariffs imposed before April 2, including those dating back to the first term of US President Donald Trump, and other restrictions, such as US measures to end low -value tariff exemptions, known as the “minimis” rule, they seem to remain.
The rates are falling, but unevenly and not for zero
The United States agreed to adjust or remove three decrees that jointly imposed 115% tariffs on China imports.
Washington agreed to reduce his fees from the so -called “Liberation Day” from 34% to 10% for 90 days and remove all tariffs imposed during the followed climb.
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China has followed the reduction, removing all tariffs imposed since April 2, except 10%, leaving the current rate by 10%.
However, this causes China to still face a 30% rate when imposed rates before April 2 are accounted for, including the two rounds of fentanil tariffs imposed in February and March.
Chinese products, from electric vehicles, steel and aluminum, will also continue to face separate tariffs imposed in recent years.
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Some non -tariff barriers suspended
China has also pledged to remove non -tariff countermeasures against the United States since April 2, although it is not yet clear how some of these measures will be reversed.
As part of its retaliation in April, China added rare land to its list of controlled exports, opened an anti -dumping investigation into the business of the chemical company Dupont in China and placed some US defense and technology companies on the banned list.
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The writing of the agreement suggests that these companies will be removed from the list, which prevented trade and investments with China, and anti -dumping investigation was filed.
The statement only says that the countermeasures imposed after April 2 will be removed, which, therefore, would not include a dozen companies included in the list banned in March and anti -dumping investigation against Google announced in February.
Dupont did not immediately respond to a comment.
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There are still doubts about the rare land
In the case of rare lands, as China’s decision applies to all countries, it is unclear whether it will be considered a US -specific contracted under the agreement.
There is no mention of the US in the original announcement of the Ministry of Commerce, which required all exporters to seek licenses before sending seven types of rare land.
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Reuters reported last month that US customers would probably face a long, uncertain waiting for licenses due to trade war.
The China Ministry of Commerce did not immediately answer Fax -sent questions about rare land restrictions.
A spokesman for the Ministry of Foreign Affairs referred to the questions on the subject for the text of the agreement.
