#TrumpTariffs Here’s the latest on #TrumpTariffs and what’s unfolding recently:

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🇺🇸 1. China Trade “Framework” Deal

On June 11, 2025, President Trump announced a preliminary trade framework with China in London:

U.S. to maintain 55% tariffs on Chinese imports (comprised of current 10% “reciprocal” tariff, 20% fentanyl-related, and 25% prior duties).

China to keep 10% tariffs on U.S. goods .

China will resume exporting rare‑earth minerals and magnets, critical for U.S. high-tech and defense industries .

In return, the U.S. will ease restrictions, including allowing Chinese students to study here .

The deal is pending formal sign‑off from Trump and Xi .

2. Legal Rulings: Tariffs Stay (For Now)

On June 10, appeals court upheld Trump-administered tariffs during ongoing legal battles, keeping them in effect until at least a July 31 en banc hearing .

3. Tariff Pause Extension & Global Scope

A 90‑day pause on sweeping “reciprocal” tariffs (from April 2’s “Liberation Day”) is set to expire July 8, but Treasury Sec. Scott Bessent indicated it’s “highly likely” to be extended for nations negotiating in good faith such as the EU, Canada, Mexico, India, and more .

4. Ongoing Impact & Bigger Picture

Tariff revenues have risen sharply (up ~78% in two months), though economists warn they could fuel inflation and hamper growth .

Small- to mid-size U.S. businesses, like family-run importers, are suffering and challenging tariffs in court .

Global markets responded cautiously: Asian and