US to Drop Tariffs on China to 30% for 90 Days
Overnight, the U.S. issued a statement that, by May 14, it will suspend 115 percentage points of its 145% International Economic Emergency Powers Act tariffs on China, and keep the lower rate of 30% "for an initial period of 90 days" while trade talks go on.
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China will drop its retaliatory tariff to 10%, the two governments said.