#TrumpTariffs

Here’s the latest on #TrumpTariffs:

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🇺🇸 1. US‑China trade truce: 55 % tariffs stay in place

Trump and Xi reached a framework in London (June 10–11), pending final sign-off, to de-escalate tensions .

The U.S. will maintain 55 % combined tariff on Chinese imports (baseline + punitive + previous) while China imposes 10 % on U.S. goods .

In return, China will export rare earth minerals up front, and the U.S. will ease visa restrictions for Chinese students .

However, key details—like timeline, scope, and reciprocal export restrictions—are still unclear, casting doubt on how solid the “truce” really is .

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🏛️ 2. Tariffs temporarily upheld by appeals court

A lower court (May 28) ruled Trump overstepped his powers under IEEPA, halting the sweeping "Liberation Day" tariffs .

The Federal Circuit Appeals Court granted a temporary stay, allowing tariffs to remain until July 31 (hearing scheduled then) .

Trump called the stay a “great and important win for the U.S.” .

If the Appeals Court rules against the administration, the case may escalate to the Supreme Court .

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🌍 3. Broader impact & reactions

These second-term tariffs pushed the average U.S. tariff rate to over 15 %, the highest level in over a century .

Markets and manufacturers face uncertainty: inflation in May held steady at 2.4%, but economists warn the full effect is yet to come .

In response, 119th Congress introduced the Trade Review Act, demanding congressional oversight of any new tariffs beyond 60 days .

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🔍 Bottom line

Trump’s tariff strategy stands—for now—but remains politically and legally fragile.

A tentative U.S.–China deal keeps tensions muted, yet lacks firm commitments and signed agreements.

Watch upcoming events:

July 31 Appeals Court hearing, which could determine the legality of the tariffs moving forward.

Final approval (or not) of the China-U.S. framework by both Presidents.