The U.S. will cut its rate from 145% to 30%, and China will drop from 125% to 10%
The United States and China have agreed to roll back some of the steep tariffs they placed on each other’s goods, giving both sides 90 days to cool tensions and continue negotiations. Under the deal, U.S. tariffs on Chinese imports will drop from 145% to 30%, while China will cut its own tariffs on American goods from 125% to 10%. The change takes effect Wednesday and follows a weekend of intense talks in Geneva between trade officials from both countries.
Read more:
https://www.supplychain247.com/article/united-states-china-tariff-deal-90-days.
https://www.reuters.com/world/china/investors-cheer-us-china-tariff-truce-cautious-over-final-deal-2025-05-12/
https://www.cnn.com/2025/05/12/business/us-china-trade-deal-announcement-intl-hnk
Please note that the article says that the tariffs are going from 145% to 30%. That 145% is two different tariffs. There is no official word as to how that breakdown goes, what happens with 301 tariffs, steel and aluminum, or the time frame. As soon as information is released through official channels, we’ll pass that along and be able to answer questions. As of this time, we don’t have any details to accurately quote tariffs.
Also, the US CBP issued the following helpful fact sheet on May 2nd (which will likely soon be out of date).
https://www.cbp.gov/sites/default/files/2025-05/new_tariff_requirements_2025_factsheet_0_2_0.pdf
