US and China reach comprehensive economic and trade agreement lowering tariffs

The Freightwaves/American Shipper website carries a very informative article about the new Economic and Trade Agreement between the USA and China aimed at addressing long-standing concerns and establishing clearer guidelines for commerce.

The agreement includes a 90-day pause on most of the tariffs in place since April 2 to allow for “further negotiations” over the next three months. Both the USA and China will roll back the reciprocal tariffs, with American tariffs on China sitting around 30% and duties on U.S. goods around 10%. These lower rates will go into effect today (Wednesday 14 May 2025).

The agreement underscores the critical importance of the economic relationship between the world’s two largest economies. Both nations have explicitly acknowledged that expanded trade, sticking to international market norms and market-based outcomes serve their mutual interests, and create broader international cooperation in the freight and logistics sectors.

The complete article can be read at the following website: https://www.freightwaves.com/news/u-s-and-china-reach-comprehensive-economic-and-trade-agreement-lowering-tariffs?oly_enc_id=2359H2956723J0G

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