China to halve retaliatory tariffs on hundreds of US goods

CNBC ^ | FEB 5 2020 | Weizhen Tan & Evelyn Cheng

[Dana1960]

Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.

The statement said the move was made in order to “advance the healthy and stable development of China-U.S. trade.”

China said that the next adjustment will depend on how Sino-U.S. trade ties evolve, adding it hopes to work with Washington to completely eliminate all tariff increases.

[existentially_kuffer]

It would be great if President Trump brought this up at his 12 noon presentation.

[Vaden]

Wrong.

The top US exports to China are aircraft, soybeans, automobiles, and computer chips. The US has a trade surplus with China in those items.

China also buys from the US coal, other agricultural products, medical equipment, and machinery.

[WASCWatch]

China is most likely interested in basic food commodities because of the Coronavirus.

[Eleutheria5]

I’m Nancy Pelosi. Let me print this out and rip it up.

[Caipirabob]

All of them need to be removed. Or we might lose track of those medical support supplies that may keep open rebellion from boiling over.

As I have said many times over. Screw the fentanyl chicom scums. Screw them to hell.

May the Chinese people rise and consume them.

[central_va]

Now let’s RAISE our import tariffs on Chink imports! We got ‘em on the run!

[wastedyears]

More winning.

[Preachin']

The DJIA may have another great day due to this.

[milagro]

So glad I read these responses, cuz when I first read the headline, my half-awake eyes didn’t see the”l” in “halve” :)!

[9YearLurker]

Or is it in exchange for our keeping most travel with them open?

We really have no idea what it may be in trade for.

[LS]

Trump may be right. There will be so much winning we’ll get tired of winning.

[captain_dave]

This is an indication that China realizes Trump will be re-elected and that Trump’s trade policies are effective.

[Republicanprofessor]

“The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.”

There is only one time zone in China. Duh.

[Fai Mao]

“What US goods are selling in China?”

Buick is the most popular car in China (Or was the last time I checked)

Walmart is extremely popular though the company localizes the merchandise.

Apple stuff, but it is made in China so I don’t know if that counts

Snack foods

Groceries imported from the US/UK/South Korea and Japan are big there.

Clothing brands

Caterpillar machinery

Movies & TV shows

NBA

Airplanes

Lots of stuff

[NorseViking]

Buick and Apple are Chinese made and so are clothing.
I am in Russia right now and only made in USA stuff I have seen in years are Barbasol shaving foam, peanut butter, Remington guns, Chrysler and Jeep.

[Vendome]

That was a joke...

[Revel]

I have heard that this one can last 2 weeks or more depending on the temperature. Less if it is really warm.