Both the US and China have confirmed a reduction in the tariffs they imposed on each other following the initial escalation by President Donald Trump earlier this year.
The deal involves both nations cancelling some tariffs altogether and suspending others for 90 days, by 14 May.
The result is that US tariffs on Chinese imports will fall to from 145% to 30%, while Chinese tariffs on some US imports will fall from 125% to 10%.
The agreement marks a major de-escalation of the trade war between the world’s two biggest economies.
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Author: BBC News
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News post in May 12, 2025, 6:05 pm.
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