Get the Facts: How the US-China trade war started and where it's at now
The United States and China agreed to drop tariffs to 30% and 10%, respectively, for the next 90 days.
The United States and China agreed to drop tariffs to 30% and 10%, respectively, for the next 90 days.
The United States and China agreed to drop tariffs to 30% and 10%, respectively, for the next 90 days.
The U.S.-China trade war has gone through multiple rounds of tariffs and retaliatory measures. In a span of three months, the tax on products imported to the U.S. from China went from 10% in February to 145% in April.
China responded by raising tariffs on American imports, and among them was a 125% tax on rare earth elements and magnets used to make weapons and electronics.
After the first round of trade talks in Switzerland over the weekend, the United States and China agreed to a 90-day pause on most of the tariffs they have imposed over the past month.
The combined U.S. tariffs rate on Chinese imports will be cut to 30% from 145%, while China바카라 게임 웹사이트s levies on U.S. imports will be cut to 10% from 125%, the two countries said in a . Here's a look at how the trade war with China evolved:
U.S. stocks rallied Monday amid the news of Chinese tariffs being lowered. Both S&P 500 and Nasdaq Composite rose by at least 3%, while Dow Jones Industrial Average gained 2% when markets closed on Monday.