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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.

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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

VPG2486

SELANGOR

BSF4611

JOHOR

JYA4079

PULAU PINANG

PRR4578

PERAK

ANW6126

PAHANG

CFC1078

KEDAH

KGA9157

NEGERI SEMBILAN

NEG2183

KOTA KINABALU

SJL2710

KUCHING

QAB5039L

Last updated 16 Jun, 2025

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Petrol

RON 95

RM 2.05

RON 97

RM 3.07

RON 100

RM 5.00

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RM 6.23

Diesel

EURO 5 B10

RM 2.74

EURO 5 B7

RM 2.94

Last updated 12 Jun, 2025

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