U.S., China Reach 90-Day Temporary Trade Deal

The U.S. and China have reached a trade deal to temporarily reduce reciprocal tariffs. The U.S. will cut tariffs imposed on Chinese imports to 30% and Chinese duties on U.S. goods will fall to 10%, effective for 90 days.

From the U.S. Grains Council:

“The U.S. Grains Council thanks President Trump and his administration for continuing to work with one of our largest trading partners to level the trade playing field. This 90-day window will allow more time for ongoing negotiations, positive news for both our countries. We hope it is the first step in a new trade relationship between China and the United States.”