China, tariffs
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Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.
The talks came as protests erupted across China, where the loss of the U.S.—the country's largest single export market—was forcing factories to shut down. Hundreds of workers turned out to protest unpaid wages and what they described as unjust dismissals, Radio Free Asia reported.
As the U.S. and China negotiate a trade deal, Trump has lowered a levy on “de minimis” low-value packages, such as online shopping from Shein or Temu.
The agreement is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the United States.
As part of the US China trade agreement, the United States has reduced tariffs on Chinese imports to 30%, while China has brought down its tariffs on American goods to 10%, a massive reduction of over 100 percentage points in some cases.
China has removed its ban on airlines accepting Boeing planes after Beijing and Washington agreed to temporarily reduce the steep tariffs on one another.
The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.
WASHINGTON (AP) — Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
By Laurie Chen, Emily Green and Francesco Guarascio BEIJING/MEXICO CITY/HANOI (Reuters) -A new U.S.-China agreement to pause sky-high tariffs on each other is pressuring manufacturing hubs such as Vietnam and Mexico to make their own,