U.S. and China agree to 90-day pause on trade war
by American Sportfishing Association 13 May 00:49 UTC
U.S. and China agree to 90-day pause on trade war © American Sportfishing Association
Following talks over the weekend in Geneva, Switzerland, the U.S. and China agreed to a 90-day pause on the ongoing trade war between both countries.
Under the newly announced agreement, the previous 125% tariff on Chinese imports will be reduced to the baseline rate of 10% beginning May 14.
The 20% tariff levied by the U.S. in February on China under the International Emergency Economic Powers Act remains in effect, as well as 25% tariffs on steel and aluminum (Sec. 232) and all tariffs imposed under President Trump's first term.
Visit ASA's Trade & Commerce Hub to learn more about how these trade developments impact the sportfishing industry.