00:00Today, with this agreement, we come to agreement that our reciprocal tariff rate will go down to 10% on
00:09the United States' side, so it goes down 115%.
00:11We enter into a 90-day pause period for negotiations, which both the Chinese and the United States are very
00:17committed to.
00:18And the Chinese on their side also go down 115% to 10%, and they remove the countermeasures that they
00:24have in place.
00:25We retain our 10% global baseline tariff, which we have on other countries.
00:30We have, in addition to that, previous measures that we've retained, which have been, frankly, effective in reducing the U
00:37.S. bilateral trade deficit with China over the past few years.
00:40So that leaves us in a very good position all in with respect to measures on Chinese imports, but more
00:47importantly, leaves us in a constructive path forward to have a positive conversation with the Chinese.
00:53The Chinese had additional non-tariff countermeasures.
00:56That has all come down by 115% to 10% each.
01:00The United States earlier this year imposed 20% related to fentanyl.
01:04That still exists.
01:05So if you're looking at Trump term two, tariffs on China right now effective.
01:09It's 30%.
01:10We have reached an agreement on a 90-day pause and substantially moved down the tariff levels.
01:23Both sides on the reciprocal tariffs will move their tariffs down 115%.
01:30We have reached an agreement on a 90-day pause.
01:30We have reached an agreement on a 90-day pause.
01:30We have reached an agreement on a 90-day pause.
01:30Grazie.
Commenti