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U.S.-China Trade Deal: Doesn’t Cover Steel, Cars, Aluminum
05/13/2025 - The U.S. and China announced a 90-day pause on tariffs following two days of talks between officials in Geneva, Switzerland, though sector-specific U.S. tariffs on cars, steel and aluminum will remain, reported The Guardian newspaper.
“We achieved total reset with China,” U.S. President Donald Trump said during a press conference on Monday.
The temporary lowering of tariffs applies to those announced by Trump on 2 April, which increased to 125% on most Chinese imports. China responded with equivalent tariffs along with non-tariff measures, reported The Guardian.
The Guardian said the agreement will see an 115% deduction on both sides. Chinese duties on U.S. goods will be lowered to 10% while the U.S. tax on Chinese goods will be lowered to 30%, as the extra 20% was imposed before 2 April.
In a joint statement released by the U.S. and China, it said both sides said they would “continue to advance related work in a spirit of mutual openness, continuous communication, cooperation and mutual respect.”
Trump said he expects to speak to Chinese President Xi Jinping later this week.
The temporary lowering of tariffs applies to those announced by Trump on 2 April, which increased to 125% on most Chinese imports. China responded with equivalent tariffs along with non-tariff measures, reported The Guardian.
The Guardian said the agreement will see an 115% deduction on both sides. Chinese duties on U.S. goods will be lowered to 10% while the U.S. tax on Chinese goods will be lowered to 30%, as the extra 20% was imposed before 2 April.
In a joint statement released by the U.S. and China, it said both sides said they would “continue to advance related work in a spirit of mutual openness, continuous communication, cooperation and mutual respect.”
Trump said he expects to speak to Chinese President Xi Jinping later this week.
