China to cut tariffs on $75 billion of U.S. goods

The Palace Museum in Beijing China

China said it would slash tariffs on $75 billion of U.S. imports in half as part of its efforts to implement a recently signed trade agreement with Washington.

Beginning Feb. 14, China will cut tariffs on some U.S. goods to 5% from 10%, while levies on some other items will be reduced to 2.5% from 5%, China’s Ministry of Finance said Thursday. The tariffs were imposed in September and December during a brutal trade fight between the world’s two largest economies.

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Please find the complete breakdown for the affected items:

Part 1 & Part 2 - From item No.1 to No.916 in List 1, 916 tariff items in total

- Additional tariffs reduced from 10% to 5%

Part 3 & Part 4 - From item No.917 to No.1717 in List 1, 801 tariff items in total

- Additional tariffs reduced from 5% to 2.5%

Sources: The Wall Street Journal, BDP International, Chinese Ministry of Finance

Should you have any questions or concerns, please reach out to the BDP Regulatory Compliance Team for more details.