China and U.S. agree on tariff cuts under 90-day trade truce
May 12th
On May 12, the United States and China reached a temporary de-escalation agreement: U.S. tariff rates on Chinese goods were reduced to 30%, while China cut tariffs on U.S. exports to 10%. The 90-day truce aims to ease bilateral trade tensions and provide breathing room for exporters, including those in the metals sector.
