China Says US Pledged to Cap Replacement Tariffs at 20%
Bloomberg 2026-07-27 11:47:03
Context: The United States and China have reached an agreement on tariffs, with China stating that the US has pledged to cap replacement tariffs on Chinese goods at 20%. This development comes after US President Donald Trump imposed a new levy. The agreement marks a significant point in the ongoing trade negotiations between the two countries.
Key Facts
- The US has committed to capping replacement tariffs on Chinese goods at 20%, according to a statement from China.
- The commitment from the US comes after President Donald Trump imposed a new tariff levy on Chinese goods.
- The 20% cap on replacement tariffs is seen as a limit on further increases, providing some clarity on the trade negotiations between the US and China.