China's Commerce Ministry said Washington has agreed to cap replacement tariffs on Chinese imports at 20%, and put the current rate at 12.5%. The ministry criticized the duties, which Washington linked to forced labor concerns, and urged the US to remove unilateral measures while negotiations continue.
Beijing said Washington has agreed to limit replacement tariffs on Chinese imports to 20%. China described that level as a ceiling reached during recent trade negotiations.
The cap covers the replacement tariffs themselves — the duties now taking the place of the temporary global levies. China's Commerce Ministry said the current replacement tariff is 12.5%, which implies the US could raise duties by another 7.5 percentage points before reaching the ceiling.
Beijing did not stop at the arithmetic. The ministry criticized the tariffs, which Washington linked to forced labor concerns, and urged the US to remove unilateral measures while continuing negotiations.
That disclosure came as the US implements the new tariffs replacing temporary global duties. The measures revive parts of President Trump's protectionist trade agenda.
Timing matters here. The announcement comes amid a trade truce between the world's two largest economies that has eased tensions. It follows a tariff battle that previously pushed US duties on Chinese goods as high as 145%.
Source: Crypto Briefing
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