Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday. The ministry said it would reduce the 34% duties on U.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

The new deal between the United States and China means Americans can expect smaller price hikes in coming weeks and fewer shortages.

Chilean industrial conglomerate Empresas Copec said on Tuesday that the Chinese market for its forestry products could become more challenging if paper makers struggle to boost sales amid uncertainty over U.

In fiscal 2025, the company expects its revenue mix with businesses headquartered in mainland China and Hong Kong to be approximately "mid-teens percent" of its worldwide revenue. Micron has a 14.9% net margin, so tariffs would’ve caused hundreds of millions in lost earnings.

The earlier 120% tariff rate on small packages from China valued under $800 will be lowered, the White House said Monday.

A White House executive order said on Monday that the U.S. would cut the "de minimis" tariff on China shipments to 54% from 120%, with a minimum flat fee of $100 to remain starting from May 14.