China halves import tariffs on US refined copper, rare earths among other products

摘要

China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare earths. The reduced tariffs will come into effect on February 14, China’s State Council announced on Thursday February 6. US products that formerly faced tariffs of 15% to enter China will be liable for a 7.5% levy, those that were 10% are now 5%. The annual trade value of the products is over $75 billion. Duty on mixed rare earth imports from the United States will be cut to 5%, from 10%.