The following is a report from the Associated Press.
Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
An executive order Monday from President Donald Trump said the tariffs on low-value parcels originating from China and coming through the U.S. Postal Service will be lowered to 54%, down from 120%.
It also says a per-package flat rate — as an alternative to the value-based tariff — will be kept at $100, rather than being raised to $200 on June 1 as previously decreed. Packages shipped by commercial carriers are subject to the general tariff, which also has been cut.
The new rules go into effect Wednesday.
They are part of a broader agreement by the Trump administration to drastically lower import taxes on all Chinese goods from 145% to 30% following weekend talks in Switzerland with Chinese officials. China issued a public notice on Tuesday lowering its own tariffs on U.S. goods to 10%, down from 125%.
However, the reductions are temporary, allowing the two sides to negotiate a longer-term deal in the next 90 days.
