US/China Trade Dispute Agreement Reached – List 4a Tariffs Reduced & List 4b Tariffs Cancelled
As many of our readers are aware, the U.S. levied additional tariffs on goods made in China. These tariffs have come in waves that began on July 6th, 2018. The next group, known as List 4b, was scheduled to become effective on Sunday December 15th at a rate of 15 percent, but has now been cancelled. Phase 1 of the deal was announced earlier today.
Additionally, the List 4a tariffs that took effect on September 1st were reduced from 15 percent to 7.5 percent while the next phase of the trade deal is negotiated. List 1, List 2, and List 3 will remain at 25 percent.
There are no additional lists or increases in rate for the current lists, scheduled for release at this time.