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US, China Agree To Reduce Tariff Rates For 90 days

Anis

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The United States and China have agreed to a 90-day tariff reduction, while ongoing negotiations for a comprehensive trade agreement continue.  The deal will lower the overall tariff rate imposed by the United States on Chinese goods from 145% to 30%.

The universal tariff, which was introduced in April and is applied to almost all international goods, accounts for the remaining 10%. China, meantime, has consented to lower its import duties on the US from 125% to 10%.

These new rates will take effect on May 14, 2025.

107399386-1712769317976-gettyimages-2147021482-China_Vehicles_Trade_Export_Growth.jpeg


In comments to reporters on Monday morning, Trump claimed the US “achieved a total reset with China,” while a statement from China’s Commerce Ministry said it hoped the US would stop its behavior of implementing unilateral tariff hikes.

Meanwhile, a tariff of 10% will be applied to the first 100,000 vehicles imported from the United Kingdom into the United States, replacing the previous rate of 27.5% (which was an increase of 25% on the original 2.5% rate).


Upon exceeding this quota, all subsequent vehicle imports from the UK will be subject to the 27.5% tariff. The 10% tariff will remain applicable to those vehicles within the initial quota.


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Written By

Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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JPJ Running Numbers

KUALA LUMPUR

VPJ2058

SELANGOR

BSF9055

JOHOR

JYC4828

PULAU PINANG

PRS1081

PERAK

ANX3089

PAHANG

CFC4151

KEDAH

KGB2297

NEGERI SEMBILAN

NEG3798

KOTA KINABALU

SJL5401

KUCHING

QAB6176L

Last updated 02 Jul, 2025

Fuel Price

Petrol

RON 95

RM 2.05

RON 97

RM 3.21

+0.07

RON 100

RM 5.00

VPR

RM 6.23

Diesel

EURO 5 B10

RM 2.88

+0.07

EURO 5 B7

RM 3.08

+0.07

Last updated 26 Jun, 2025

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