A Phase One Deal With China is Reached; List 4B Tariffs Not To Imposed, Many List 4A Tariffs Likely Reduced
President Trump announced via Twitter today that the United States and China have completed a “Phase One Deal” in the ongoing trade dispute. According to the President’s Tweet, the United States will not impose the List 4B tariffs, which had been set to take effect on December 15, 2019, and “The 25% Tariffs will remain as is, with 7½% on much of the remainder.” This has been interpreted by many new agencies to mean that the List 1, 2 and 3 tariffs will remain the same but the majority of the List 4A tariffs will be reduced from 15% to 7 ½%.
