#TrumpTariffs *Latest Updates on Trump Tariffs*

The US and China have agreed to reduce tariffs on each other's imports for 90 days as part of a trade truce. The US has cut tariffs on Chinese goods from 145% to 30%, while China has reduced its tariffs on US goods from 125% to 10%.¹

*Key Developments*

- *US-China Trade Truce*: The temporary reduction in tariffs aims to ease tensions between the two nations, but deep-rooted issues remain unresolved.

- *Tariff Suspension*: China has suspended some non-tariff countermeasures for 90 days, effective May 14, 2025.

- *Impact on Businesses*: US companies, like Boeing, are expected to benefit from the truce, but challenges persist, particularly in the semiconductor and automotive industries.

*Affected Countries and Products*

- *China*: 30% tariff on US goods, down from 145%

- *US*: 10% baseline tariff on imports, with country-specific rates applying to certain nations

- *Automobiles and Parts*: 25% tariff on non-USMCA compliant vehicles and parts

- *Steel and Aluminum*: 25% tariff on imports, with some exclusions

*Ongoing Concerns*

- *Trade Negotiations*: The temporary truce is subject to review and potential adjustments after 90 days.

- *Economic Impact*: The tariffs' effects on inflation, growth, and employment remain a concern for policymakers and businesses.²