The United States will cut the "de minimis" tariff for low-value items imported from China, a White House executive order said on Monday, further de-escalating a potentially damaging trade war between the world's two largest economies.

A White House executive order said on Monday that the U.S. would cut the "de minimis" tariff on China shipments to 54% from 120%, with a minimum flat fee of $100 to remain starting from May 14. (Reporting by Brenda Goh in Shanghai and Farah Master in Hong Kong;

President Donald Trump has slashed the "de minimis " tariff on low-value packages imported from China to 54 percent, down from 120 percent, the White House confirmed in an updated executive order published late Monday.