China to Cut Tariffs on Imports Including Machinery, Textiles
S E E D E D C O N T E N T
The average import tax for some machinery will be reduced to 8.8 percent from 12.2 percent, for textiles and construction materials to 8.4 percent from 11.5 percent, and for paper and some other products to 5.4 percent from 6.6 percent, the radio station reported.
Wednesday’s decision will lower the average most-favored nation tariff rate to 7.5 percent from 9.8 percent. China still has a higher average tariff rate than many developed economies. The U.S.’ average applied MFN rate was 3.4 percent in 2017, and in general the Trump administration has accused China of being a protectionist economy.
Any reduction of tariffs usually must be offered to all countries equally under World Trade Organization rules, but U.S. goods would still be subject to China’s retaliatory tariffs.
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The rest of the World should be patting Trump on the back. China is reducing tariffs on a bunch of stuff, which is good for the globe. The fight between us and them will pass too !
Is Trump WINNING again ?
Not yet from reading the rest of the article.
The implication is that China is reacting to internal pressure from it's own business community and consumers.
As far as China's attitude toward the US tariffs;
But he saved the world from high Chinese tariffs so far. The "World" should rejoice.
Ya see.....The United States of America ALWAYS seems to make the "World" a better place...... Yet THE American "LEFT" in this country seem to find the country they live in to be CRAP !
That's what's "Laughable !
Hope I was on topic in my comment !
"Any reduction of tariffs usually must be offered to all countries equally under World Trade Organization rules, but U.S. goods would still be subject to China’s retaliatory tariffs."
Gosh.….and Trump saying the "New World Order" isn't for us and gets chastised for it, yet China goes selfish, and it's just AOK with the "World Order" ?
More from last week’s story on these tariff cuts
" The move comes as the nation is trying to stimulate domestic consumption to support a slowing economy , and follows similar cuts to tariffs in July on a wide range of consumer goods. "
I love this cartoon.