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China and U.S. Reach Preliminary Tariff Agreements; Beijing Sets Upper Limit on Future Levies

GateNews

2026-05-20 23:17:56

According to a Chinese Commerce Ministry official, on May 21, the Chinese and U.S. trade teams reached preliminary agreements on bilateral tariff arrangements during ongoing economic negotiations. Under the arrangement, the U.S. committed that its tariff level on Chinese goods will not exceed the threshold established in the Kuala Lumpur trade arrangement, regardless of any future justification. China's Commerce Ministry also stated that future negotiations aim to further eliminate existing unilateral tariffs imposed on China, creating more favorable conditions for bilateral trade expansion.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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