The US and China will restore their punitive customs duties respectively to 30% for Chinese products imported to the US and 10% for US products imported into China, US US Commercial Representative Jameson Green explained today from Geneva. After months of trade war and two days of negotiations in Geneva on the weekend, the two parties reduced their customs duties by 115 percentage points for a period of 90 days, while consultations continue, Green and US Secretary of State explained. “Both countries have represented their national interest very well,” Bessed said. “We have both interests in a balanced trade, the US will continue to move towards this.” For its part, China today welcomed the “significant progress” made by the United States during bilateral trade negotiations, which resulted in a significant reduction in customs duties. ‘This decision (…) is […]
Source: News Beast
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