The United States and China agreed Monday to drastically roll back tariffs on each other’s goods for an initial 90-day period, in a surprise breakthrough that has de-escalated a punishing trade war and buoyed global markets.
There was already a 25% tariff on a lot of goods from China before the trade war started. Now they’ve agreed to a flat 30% tariff, so basically Trump managed to raise tariffs on China by 5%.
There was already a 25% tariff on a lot of goods from China before the trade war started. Now they’ve agreed to a flat 30% tariff, so basically Trump managed to raise tariffs on China by 5%.
https://www.commerce.gov/news/fact-sheets/2024/05/fact-sheet-president-biden-takes-action-protect-american-workers-and