tax cut from 145% to 30%

The interview followed the agreement that the two countries negotiated over the weekend to slash their steep tariffs for 90 days. The U.S. will cut its additional tariffs on China to 30% from 145%, while China will reduce its tariffs on U.S. imports to 10% from 125%. Tariffs on Chinese goods that were in place before April 2 will remain, Bessent said.The interview followed the agreement that the two countries negotiated over the weekend to slash their steep tariffs for 90 days. The U.S. will cut its additional tariffs on China to 30% from 145%, while China will reduce its tariffs on U.S. imports to 10% from 125%. Tariffs on Chinese goods that were in place before April 2 will remain, Bessent said.