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Tag: U.S.-China Tariff Reduction
A Temporary Truce: The U.S.-China Tariff Reduction and Its Implications for Global Trade
U.S.-China Tariff Reduction: On May 12, 2025, the United States and China announced a significant, albeit temporary, reduction in tariffs, marking a notable de-escalation in their ongoing trade conflict. The agreement entails the U.S. lowering tariffs on Chinese goods from 145% to 30%, while China reduces its tariffs on U.S. goods from 125% to 10%, effective for a 90-day period starting May 14, 2025 . This development follows a series of tit-for-tat tariff increases that have strained bilateral relations and disrupted global supply chains.