US slashes de minimis tariff on Chinese imports to 54% from 120%

US has lowered the de minimis tariff on low-value Chinese imports (up to $800) from 120 per cent to 54 per cent, effective May 14.
It has retained the $100 duty on postal shipments from China, but a planned increase to $200 from June 1 has been cancelled.
This move follows a breakthrough in US-China trade talks, including 90-day mutual tariff reductions starting Wednesday.Read More