Overview

• The U.S. and China have agreed to suspend most punitive tariffs for 90 days, effective May 14, following weekend negotiations in Geneva.
• Under the truce, U.S. tariffs on Chinese goods drop to 30%, while Chinese tariffs on American products are reduced to 10%.
• China has lifted its ban on Boeing aircraft deliveries, and the U.S. has rescinded new export restrictions on AI-related semiconductors.
• A 20% U.S. tariff remains in place to pressure China on fentanyl precursor controls, highlighting ongoing tensions in the agreement.
• The European Union remains excluded from tariff relief discussions, underscoring strained transatlantic relations and potential global trade shifts.