U.S. and China Trade Agreement

President Trump has announced that the Section 301 tariffs on goods from China that were set to take effect on December 15 have been cancelled, citing agreement on Phase 1 of a deal to ease China-US Trade tensions. Further negotiations between both countries are expected to begin immediately.

In addition, the 15 percent tariff that went into effect on September 1 on List 4A goods will be reduced to 7.5 percent. The 25 percent tariff on goods in Lists 1, 2, and 3 will remain in place.