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The United States adjusts import taxes from China: Impact on cryptocurrency
On May 14, according to information from Xinhua News Agency, the U.S. Department of Commerce announced the cancellation of 91% of tariffs imposed on Chinese goods, including goods from Hong Kong and Macau. This decision is based on the Completion Order of the Countervailing Tax Adjustment with China, which takes effect at 00:01 on May 14, Eastern Time.
A 34% tax still applies to Chinese goods. However, 24% of it will be temporarily postponed for 90 days, with only the remaining 10% kept unchanged. The United States also reduced or eliminated supplemental taxes on small-value packages from China, lowering the tax rate from 120% to 54%. Furthermore, the plan to increase the tax from $100 to $200 per package starting June 1, 2025, has been canceled.
This information is for market data purposes only and is not investment advice.
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