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China officially announces tariff cut on US imports to 10%, effective midday today

( May 14, 2025, 02:55 GMT | Official Statement) -- MLex Summary: China will adjust the tariff on US imports to 10 percent from midday today, the Customs Tariff Commission of the State Council announced. The commission will suspend 24 percent of an additional ad valorem duty on US articles for 90 days, and remove rates imposed under announcements on April 9 and 11, respectively, effectively reducing US tariffs to 10 percent. The move, it added, meets expectations from producers and consumers in both countries and is expected to boost economic and trade exchanges between China and the US, as well as the global economy.The statement follows:...

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