Trump Paused Some China Tariffs, but Stuff From Shein and Temu Will Remain Expensive

On Monday, the United States and China made a joint statement announcing a new stage in the trade war that temporarily pauses the tariffs the two nations imposed on each other earlier this year. For the next 90 days, China will ease duties on US imports from 125% to 10%. Over the same timeframe, the US will decrease tariffs on Chinese imports from 145% to 30%. Excluded from this deal, however, are Chinese shipments worth less than $800, which will be taxed at a rate of 120%, or a flat rate of $100 per postal item. Starting on June 1st, that $100 fee will double to $200. The joint statement came after officials from both countries met in Geneva over the weekend. Markets, which have experienced heightened volatility since President Trump’s “Liberation Day,” surged on Monday morning as the news broke. Last month, President Trump announced a wide range of new tariffs on global imports, including an 84% duty on Chinese imports, which subsequently rose to 145%. He also closed the “de minim ... Read full article.