Yuanyuan Tan Tian stated that since February last year, the new tariffs imposed by the United States on China under the International Emergency Economic Powers Act mainly consist of two parts. One is the so-called “Fentanyl Tariff,” currently at a 10% rate for China; the second is the so-called “Reciprocal Tariff,” currently applying a 10% rate to China, while the remaining 24% rate is temporarily suspended. According to the US executive order, these tariffs enacted under the International Emergency Economic Powers Act will be “terminated as soon as possible.”
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Yuyuantan Sky: Which tariffs on China have the United States stopped collecting?
Yuanyuan Tan Tian stated that since February last year, the new tariffs imposed by the United States on China under the International Emergency Economic Powers Act mainly consist of two parts. One is the so-called “Fentanyl Tariff,” currently at a 10% rate for China; the second is the so-called “Reciprocal Tariff,” currently applying a 10% rate to China, while the remaining 24% rate is temporarily suspended. According to the US executive order, these tariffs enacted under the International Emergency Economic Powers Act will be “terminated as soon as possible.”