China, US tariffs
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The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.
U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.
The United States and China announced that tariffs against one another will be reduced for an initial 90-day period following trade talks in Switzerland.
Xi Jinping’s defiance against Donald Trump pays off with the dramatic tariffs reduction. Bloomberg reporters answer your questions on what lies ahead.
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The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The lowered tariffs will remain in place for 90 days while the two sides negotiate a wider trade deal.
The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.
The talks came as protests erupted across China, where the loss of the U.S.—the country's largest single export market—was forcing factories to shut down. Hundreds of workers turned out to protest unpaid wages and what they described as unjust dismissals, Radio Free Asia reported.