The United States is significantly reducing tariffs on small parcels coming from China. This action lowers the existing high tariffs to less than half.
The White House announced on the 12th (local time) that starting from the 14th, it will reduce tariffs on small imports from China from 120% to 54%.
President Donald Trump signed an executive order containing the relevant details. The minimum fee will remain at the current $100.
President Trump abolished the benefit of tariff exemption known as the 'de minimis' for imports from China under $800 on May 3rd. Instead, he signed an executive order to impose a 30% tariff on Chinese imports under $800.
Subsequently, on the 9th, the small parcel tariff was revised twice from 30% to 90% and from 90% to 120%.
However, the tariff on small parcels has returned to the 50% range due to the reduction on that day.
This tariff reduction is interpreted as a signal that the Trump administration is partially easing its ultra-high tariff policy on Chinese goods.
Recently, the United States and China conducted trade negotiations in Geneva. Global financial markets are focusing on the possibility of easing trade tensions between the two countries.