TOKYO — As China and the U.S. hit each other with tit-for-tat tariffs during an April standoff, Chinese President Xi Jinping knew he had one advantage over Donald Trump — an economy less dependent on the U.S. thanks to years of efforts.
The U.S. slashed its “reciprocal” tariff rate on Chinese goods from 145% to 30% on Wednesday. Small packages under $800 in value, which had been subject to a “de minimis” duty of 120% of the assessed value or $100 per package, are now subject to a 54% tariff.
