Big news on US-China trade: President Trump has just announced a major breakthrough in tariff negotiations. After months of escalating trade tensions and record-high tariffs-US rates on Chinese imports had soared to 145% earlier this year-both sides have agreed to a significant reduction. Starting today, the US and China will each lower their tariffs by 115% but keep a 10% baseline tariff in place, setting the stage for further talks to open market access for American exports13.

For shoppers, this means the tariff on small parcels (like those from Shein and Temu) has dropped from 120% to 54%, with the $100 flat fee per package remaining and a planned $200 charge canceled24. China, in turn, will remove recent retaliatory tariffs and pause its own 34% tariff for 90 days, though a 10% tariff remains during this period1.

Markets have responded positively, and both governments say this is a “total reset” in trade relations. However, some tariffs are only suspended for 90 days, so the situation could change if talks stall. For now, this deal is being hailed as a win for US workers and a step back from the brink of a trade war123. Stay tuned for updates as new negotiations unfold! #TrumpTariffs