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Starting this month, China will cut fees for US goods by half
Thursday 06, February 2020 10:57 | Economicreadings: 32
[rtl]Baghdad ( NINA ) - The Chinese Ministry of Finance announced today, Thursday, that the fees imposed on goods imported from the United States will be reduced by half starting from the fourteenth of February.
A statement of the Chinese Ministry of Finance / According to Xinhua Agency / pointed out that the fees for goods, which imposed a 10% fee on the first of September 2018, had been modified and reduced to 5%, and the amendment of fees on the goods on which a 5% fee had been imposed to decrease to 2.5% starting on the day February 14th.
He added: "China hopes that the two parties can fulfill their obligations within the framework of the agreements reached, and enhance market confidence, cooperation to develop bilateral trade and economic relations and help in the growth of the global economy."
On the 15th of last month, US President Donald Trump announced the signing of the first phase of a trade agreement with China.
Under the trade agreement, Washington will reduce some customs duties on imports from China in exchange for an increase of about $ 20 billion in Chinese purchases of American agricultural, manufactured and energy products over the next two years. / End 3[/rtl]
A statement of the Chinese Ministry of Finance / According to Xinhua Agency / pointed out that the fees for goods, which imposed a 10% fee on the first of September 2018, had been modified and reduced to 5%, and the amendment of fees on the goods on which a 5% fee had been imposed to decrease to 2.5% starting on the day February 14th.
He added: "China hopes that the two parties can fulfill their obligations within the framework of the agreements reached, and enhance market confidence, cooperation to develop bilateral trade and economic relations and help in the growth of the global economy."
On the 15th of last month, US President Donald Trump announced the signing of the first phase of a trade agreement with China.
Under the trade agreement, Washington will reduce some customs duties on imports from China in exchange for an increase of about $ 20 billion in Chinese purchases of American agricultural, manufactured and energy products over the next two years. / End 3[/rtl]
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