China To Cut Tariffs In Half On $75 Billion Worth Of U.S. Goods

The Chinese Ministry of Finance announced reductions in tariffs on certain US goods, including pork and soybeans, from 10% to 5%, and on auto parts and crude oil from 5% to 2.5%, effective February 14th. This move follows a preliminary trade agreement signed by President Trump and China, which aims to ease the trade war. The US agreed to delay new tariffs and reduce some existing ones, while China committed to purchasing $200 billion in US goods and tightening intellectual property rules. Future steps depend on the evolving economic and trade situation between the two nations. Despite these reductions, significant tariffs remain on both sides.

What percentage reduction did China announce for tariffs on US pork and soybeans?

• From 15% to 10%

• From 5% to 2.5%

• From 10% to 5%

• From 20% to 10%

What was one of the key components of the preliminary trade agreement between the US and China?

• The US agreed to increase tariffs on Chinese goods.

• China agreed to reduce tariffs on European goods.

• China agreed to stop all imports from the US.

• The US agreed to delay new tariffs on Chinese imports.

How much worth of US goods did China promise to purchase as part of the trade agreement?

• $200 billion

• $250 billion

• $150 billion

• $100 billion

What is the value of American goods that will still face Chinese tariffs after the reduction?

• $200 billion

• $100 billion

• $50 billion

• $35 billion

How much worth of Chinese goods is the US still taxing?

• $360 billion

• $300 billion

• $400 billion

• $250 billion