ChainCatcher reports that according to Xinhua News Agency, based on the "Executive Order to Modify Reciprocal Tariff Rates to Reflect Discussions with the People's Republic of China" issued by the White House on May 12, the United States has at 00:01 Eastern Time on May 14 lifted the 91% tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macau Special Administrative Region) under Executive Orders No. 14259 of April 8, 2025, and No. 14266 of April 9, 2025, and modified the 34% reciprocal tariff measures on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macau Special Administrative Region) imposed under Executive Order No. 14257 of April 2, 2025, with 24% of the tariffs suspended for 90 days and the remaining 10% retained.
Simultaneously, the United States has lowered or removed tariffs on small packages from China (including small packages from the Hong Kong Special Administrative Region), reducing the ad valorem tax rate for international mail from 120% to 54%, and canceling the previously planned increase of the specific tax from $100 to $200 per item, which was set to take effect on June 1, 2025.
