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Tag: Section 301 Trade Act
U.S. and China Slash Tariffs in 90-Day Truce: A Legal and Policy Analysis of the Temporary Trade Reset
On May 12, 2025, the United States and China announced a significant de-escalation in their ongoing trade conflict. In a surprising turn of events, both the U.S. and China Slash Tariffs in 90-day Truce, reducing reciprocal tariffs that had previously reached unprecedented levels. The U.S. lowered tariffs on Chinese goods from a peak of 145% to 30%, while China reduced its tariffs on U.S. imports from 125% to 10%. This agreement, reached during negotiations in Geneva, aims to provide temporary relief to global markets and businesses affected by the prolonged trade war .
Navigating the Crossroads: U.S.-China Trade Relations Amidst Escalating Tariffs and Diplomatic Tensions
The intricate tapestry of U.S.-China Trade relations has been marked by a series of economic engagements, strategic partnerships, and, more recently, escalating tensions. The recent announcement of high-level trade talks between U.S. Treasury Secretary Scott Bessent, chief trade negotiator Jamieson Greer, and China's economic chief He Lifeng in Geneva signifies a potential thaw in the frosty relations that have characterized the two nations' interactions in recent years. This meeting aims to address the extensive tariffs that have disrupted global markets and supply chains, with the U.S. imposing up to 145% tariffs on Chinese imports and China retaliating with 125% tariffs on U.S. goods.