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China's Top Diplomat to Visit Europe as Tensions With US Linger

China's Top Diplomat to Visit Europe as Tensions With US Linger

Bloomberg6 hours ago

Chinese Foreign Minister Wang Yi is set to visit Europe next week, a trip that comes as Beijing tries to counter US tariff pressure by improving ties with other trading partners.
Wang's trip from Monday to July 6 will include stops and meetings with top officials in Brussels, Germany and France, Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing on Friday.

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MedTech Europe calls for medtech tariff and export restriction exemptions
MedTech Europe calls for medtech tariff and export restriction exemptions

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MedTech Europe calls for medtech tariff and export restriction exemptions

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Ostin Technology Group Co Ltd Issues Statement Regarding Market Activity
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Ostin Technology Group Co Ltd Issues Statement Regarding Market Activity

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US, China agree on deal for tariffs, rare-earth magnets
US, China agree on deal for tariffs, rare-earth magnets

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US, China agree on deal for tariffs, rare-earth magnets

The U.S. and China have agreed on a trade deal that would reduce tariffs and expedite shipments of rare-earth metals. United States Treasury Secretary Scott Bessent said on Friday that U.S. tariffs on Chinese imports will now start at 30%, while China's duty rate on goods from the U.S. will be at 10%. The 20% fentanyl levy on China will also stay in place. In April, the Trump administration hit Chinese imports with a 145% tariff rate. China retaliated by slapping a 125% tariff on goods imported from the U.S. 'Now our tariffs are at 30% on them, we're at 10%,' Bessent said on Fox Business. 'We're collecting a substantial tariff income.' President Donald Trump announced the agreement with China on Thursday during a news conference that 'We just signed with China yesterday,' without further explanation. China's Commerce Ministry confirmed that both nations have reached a framework for a deal in a statement on Friday. 'China will review and approve export applications for controlled items that meet the required criteria, while the United States will lift a series of restrictive measures previously imposed on China,' the country's Ministry of Commerce said in a statement to China Daily News. U.S. levies on Chinese goods stood at an average of 51.1% for most imports before Thursday's trade deal was announced, while China's duties on American products were at 32.6%, according to the Peterson Institute for International Economics. Bessent also said China has agreed to remove its restrictions on exports of rare-earth metals. On April 4, China began restricting exports of rare-earth magnets to the U.S., which are used in high-tech products such as computer chips and electric vehicle batteries. 'We have an agreement with them that will make magnets flow to everyone who had received them before on a regular basis,' Bessent said. The post US, China agree on deal for tariffs, rare-earth magnets appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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