{"id":78830,"date":"2020-02-27T10:43:28","date_gmt":"2020-02-27T10:43:28","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/china-halves-tariffs-on-75-billion-in-u-s-goods-including-wood-products\/"},"modified":"2025-09-19T08:52:46","modified_gmt":"2025-09-19T08:52:46","slug":"china-halves-tariffs-on-75-billion-in-u-s-goods-including-wood-products","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/china-halves-tariffs-on-75-billion-in-u-s-goods-including-wood-products\/","title":{"rendered":"China halves tariffs on US wood products"},"content":{"rendered":"

China announced Thursday that it will cut existing tariffs on $75 billion worth of U.S. goods in half as part of the Phase One trade deal President Trump signed last month.<\/em><\/p>\n

\n

China's finance ministry said in a statement that tariff reductions for the relevant goods, which were initially announced on Sept. 1, will take effect from 0501 GMT on Feb. 14.<\/p>\n

The reductions come about three weeks after the two countries signed the Phase 1 trade deal in Washington, which included China's promise to boost purchases of U.S. goods and services by $200 billion over two years in exchange for the United States\u00a0rolling back some tariffs\u00a0imposed against Chinese goods.<\/p>\n

China's finance ministry said in a statement that additional\u00a0tariffs\u00a0levied on some goods will be\u00a0cut to 5% from 10% previously, while extra tariffs on some goods will be lowered to 2.5% from 5% previously. The ministry did not state the value of the goods that are affected by the decision.<\/p>\n

China hopes it and the United States can abide by the trade deal and implement it to boost market confidence, push bilateral trade development and aid global economic growth, the ministry added.<\/p>\n

Some analysts said following the trade deal that China may need to roll back some of the tariffs on U.S. goods such as soybeans and crude oil in order to meet its purchasing commitments.<\/p>\n

From 1 September 2019, China imposed 10% additional tariffs on wood products including fuelwood, softwood chips\/pellets, sawnwood, plywood, wood and bamboo tableware and kitchen utensils.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

China announced Thursday that it will cut existing tariffs on $75 billion worth of U.S. goods in half as part of the Phase One trade deal President Trump signed last month. China’s finance ministry said in a statement that tariff … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":61568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716,4715],"tags":[3254,3257,3258,3252,3429],"class_list":["post-78830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends","category-market-analysis","tag-china","tag-tariffs","tag-trade-war","tag-us","tag-wood-products","topic-forestry","topic-sawmilling","area-china","area-north-america"],"acf":[],"yoast_head":"\nChina halves tariffs on US wood products - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/china-halves-tariffs-on-75-billion-in-u-s-goods-including-wood-products\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China halves tariffs on US wood products - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"China announced Thursday that it will cut existing tariffs on $75 billion worth of U.S. goods in half as part of the Phase One trade deal President Trump signed last month. 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