China, White House and tariffs
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Beginning Wednesday, shipments arriving in the United States from China and Hong Kong worth less than $800 could face 54 percent tariffs.
Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
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