US EditionChina-US 90-day tariff truce should be extended, Global Times says
- The United States and China agreed to a 90-day truce starting in mid-May 2025, temporarily reducing tariffs on each other's goods.
- The truce followed a weekend of face-to-face talks in Geneva amid escalating trade tensions that had raised U.S. Tariffs to 145% and Chinese duties to 125%.
- During the 90-day truce, tariffs imposed by the U.S. On the majority of Chinese goods were lowered from 145% to 30%, while China reduced its duties on imports from the U.S. From 125% down to 10%, leading to a significant increase in shipping activity and port operations across the Pacific.
- The cost to ship a 40-foot container between Shanghai and Los Angeles increased by 16% to $3,136, while CEO Rolf Habben Jansen noted the industry is experiencing a significant surge in cargo volumes.
- Analysts note the truce offers short-term relief but expect tariff levels to rise again after 90 days, with risks of industry oversupply and weaker demand in late 2025.
28 Articles
28 Articles
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China-US 90-day tariff truce should be extended, Global Times says
The 90-day tariff truce agreed by the United States and China during trade talks in Switzerland last weekend is too short, China's state-backed Global Times said on Friday, as envoys from the world's two biggest economies regrouped in Korea.
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