White House eased China tariffs
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But then on 2 April, Donald Trump's "Liberation Day" tariffs hit all Chinese goods entering the US, eventually reaching 145% - and his clients asked him to pause production. "I tried to keep smiling through my anxiety for the sake of my 40 workers," he told the BBC.
As the U.S. and China negotiate a trade deal, Trump has lowered a levy on “de minimis” low-value packages, such as online shopping from Shein or Temu.
Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.
The agreement is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the United States.
BEIJING (Reuters) -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 world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.
The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.
By Laurie Chen, Emily Green and Francesco Guarascio BEIJING/MEXICO CITY/HANOI (Reuters) -A new U.S.-China agreement to pause sky-high tariffs on each other is pressuring manufacturing hubs such as Vietnam and Mexico to make their own,
There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.