#TrumpTariffs China Trade Deal: A recent agreement with China, announced around May 12, 2025, involves both the U.S. and China lowering existing tariffs by 115% while maintaining an additional 10% tariff. China is also set to remove retaliatory tariffs and non-tariff countermeasures. The initial 34% tariff China imposed on the U.S. is suspended for 90 days but will retain a 10% tariff during this period. The U.S. will remove additional tariffs imposed on China in early April 2025 but will keep pre-existing tariffs, including Section 301 and Section 232 tariffs.

* Sector-Specific Tariffs: Tariffs from the previous administration on steel (25%), aluminum (25%), and automobiles (25% on fully imported cars, expanding to parts) remain in place.