US slashes tariffs on Temu, Shein goods to as low as 30%: report

News Snapshot:

The White House has slashed tariffs on cheap Chinese goods from shopping sites like Temu and Shein — to as low as 30%, below the 54% rate included in President Trump’s executive order earlier this week, according to a report. The 30% tariff – down from 145% – reflects a 10% “reciprocal” duty on China, and a 20% tax related to a fentanyl trafficking crisis. An alternative flat fee of $100 per package remains in effect. Following trade talks over the weekend in Switzerland, the US and China agreed to a 90-day truce, with the US slashing taxes on Chinese...