Trump Notches Another Win On Trade As China Slashes Tariffs Investor's Business Daily, Nov 25, 2017
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A more recent example was China's decision, announced on Thanksgiving, to slash import taxes on some 187 consumer goods. As Bloomberg News correctly noted, this move "promises to boost the prospects of multinationals in the Chinese market," in particular big U.S. consumer multinationals like Procter & Gamble Co. and medicine-maker Pfizer.
Coming just weeks after his Asian trip finished, it counts as a major victory for Trump on trade. Indeed, Trump has loudly and consistently criticized China and others for not living up to their agreements to lower trade barriers. Last year, China's trade deficit with the U.S. stood at $347 billion. It has become a chronic sore spot in economic relations between the two countries.
Nor are these just-announced tariff cuts small. When the cuts kick in on Dec. 1, they'll be sliced from an average of 17.3% to an average of 7.7%.
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https://www.investors.com/politics/editorials/trump-notches-another-win-on-trade-as-china-slashes-tariffs/
