US President Donald Trump has slashed the tariff on small parcels sent from mainland China and Hong Kong to the US, just hours after the world's two biggest economies said they would cut levies on each other's goods for 90 days.
According to a White House statement, the new tariffs on small packages, worth up to $800, have been cut from 120 per cent to 54 per cent. The flat fee per parcel will remain at $100, while a $200 charge due to apply from June 1 has been cancelled.
Chinese online retail firms Shein and Temu had previously relied on the so-called exemption to ship low value items directly to customers in the US without having to pay duties or import taxes.
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