The 90-day deal to de-escalate tariffs, which begins on May 14, includes significant concessions and shows a willingness from both sides to negotiate.
In early April, US tariffs on Chinese products had soared to 145%, while Beijing imposed a 125% tariff on US imports. US supermarkets had begun to warn of imminent stock shortages.
Donald Trump was quick to claim a significant win from Monday’s deal, but so did China. Was this really a win for either side? So far, the only progress is the rollback of tariffs to levels before the trade war intensified in April 2025.
But for China, the latest tariff reduction has provided much-needed, if short-term, economic relief,