The latest twist in the U.S.-China trade war resulted in a lowering of U.S. tariffs of 145% on Chinese imports to 30%, and a lowering of 125% tariffs on U.S. imports into China to 10%. Additionally, a sort of truce was declared for 90 days as negotiations take place.
This essentially puts tariffs on Chinese imports into the U.S. where they were before the trade war escalated and both countries slapped triple-digit tariffs on each other's products. While the latest development is a positive one for U.S. consumers, who won't be faced with astronomical tariffs on Chinese products, things can change after the 90-day reprieve -- and both sides could start scuffling again.
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