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After UK and China trade deals, tariff rate still highest since 1934, Yale report says
@Source: cnbc.com
U.S. officials agreed Monday to slash duties on China to 30% total, down from at least 145%, for 90 days as they continue economic and trade discussions. China dropped its duty on U.S. exports to 10% from 125%.
President Donald Trump also announced a deal with the U.K. on Thursday. While light on specifics, the president confirmed a 10% tariff would remain in place and that the first 100,000 imported U.K. automobiles will be tariffed at 10% rather than 25%, for example.
More from Personal Finance:Key issues in the Trump tax cut debateCompanies brace for falling sales as foreign tourists boycott U.S.What to know about wage garnishment and student debt
The White House has enacted many other tariffs, including a 10% across-the-board tariff on most U.S. trading partners. There are additional levies tied to specific products like steel, aluminum and automobiles, and certain imports from Canada and Mexico.
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