Hey there! 🎉 Guess what? China has decided to lower the extra taxes (called tariffs) on things they buy from the United States! Starting this Wednesday at 12:01 p.m., the additional tariffs will drop from 34% to just 10%. That’s a big change! 🛍️✨
What’s a tariff? 🤔
A tariff is like an extra fee added to products from another country. Imagine you trade toys with a friend, but you have to pay extra candy each time. That’s kind of like a tariff! 🍬
Why is this happening? 🌐
Leaders from China and the U.S. had important meetings over the weekend. They agreed to make trading easier between the two countries. Reducing tariffs helps businesses and shoppers in both places. It’s like when friends decide to share more and argue less! 🤝
The 24% tariff rate on some U.S. goods will also take a break for 90 days. That’s three whole months! ⏰
Why does it matter? 💡
Lower tariffs can make products cheaper. So, if you like gadgets, clothes, or toys from the U.S. or China, this could be good news! It helps companies sell more and people buy things they need or want. 🛒
This change is great for both countries and even the world economy. When big countries like China and the U.S. trade nicely, everyone benefits! 🌏❤️
Reference(s):
cgtn.com
