U.S. President Donald Trump promised to cut import duties for China some time in the future, or Washington and Beijing would not be able to do business with each other.
"At some point, I’m going to lower them because otherwise, you could never do business with them. And they want to do business very much. Look, their economy is really doing badly. Their economy is collapsing," Trump said.
On April 2, Trump announced the imposition of customs duties. He increased duties on Chinese products to 125%. The total U.S. duties on goods from China currently stand at 145%. In response, China raised tariffs on American goods to 125% from April 12.
