China has rolled back 24% additional tariffs on U.S. goods for a year, but the 10% levies introduced in response to President Donald Trump‘s ‘Liberation Day‘ duties will remain in effect, the country’s cabinet confirmed on Wednesday.<br /><br />Meanwhile, Trump signed the executive order on Tuesday to formally cut a fentanyl-related tariff on imports from China to 10% from 20%, delivering on a key element of the trade deal struck with Chinese President Xi Jinping.
