Fentanyl Tariffs Cut as US-China Delay Major Trade Controls

WooGlobe

The U.S. and China just made a surprising trade move — cutting key tariffs, delaying export controls, and even working together on major issues like fentanyl trafficking and TikTok. Following high-level talks in Busan and Kuala Lumpur, both nations agreed to reduce tensions and extend tariff suspensions. Could this be a real turning point in U.S.-China relations or just a temporary truce?  Watch now to find out what this deal really means for the global economy. WooGlobe Ref : WGA564417 For licensing and to use this video, please email licensing@wooglobe.com

Transcript

00:00The U.S. and China just hit pause on a trade war that's been simmering for years,

00:04and it could change everything.

00:06In a surprise move, both nations agreed to cut tariffs and delay major restrictions.

00:11The U.S. slashed its fentanyl tariff on Chinese goods from 20% to 10%.

00:15It also extended a key tariff suspension for another year,

00:19a major shift from the usual 90-day renewals.

00:22In return, China postponed rare-earth export controls that were about to hit in December.

00:27And there's more the U.S. will hold off on harsh penalties against China's shipping and shipbuilding industries.

00:34China responded by delaying its own retaliatory moves.

00:37Plus, both countries agreed to fight fentanyl trafficking together and expand agricultural trade.

00:43Even TikTok's fate got a hopeful twist, with both sides aiming for a peaceful solution.

00:48All of this came after high-level talks in Busan and follow-up negotiations in Kuala Lumpur.

00:53Is this the beginning of a new era of cooperation?

00:55Or just another pause before the next storm?

00:59Only time will tell.

Category

Transcript

Be the first to comment

Recommended