Pending ratification by China, US to levy 55% tariff on Chinese imports and China 10% on American imports
Bankinter: Principle of a trade agreement between the US and China. Trump announced yesterday an agreement whereby China will supply the US with minerals and rare earths in exchange for allowing its students access to American universities. The US will levy a 55% tariff on imports from China (current 25% + 10% base rate + 20% for fentanyl trade) and China will apply a 10% tariff on US imports. The…