China-US 90-day tariff truce should be extended, Global Times says
- The United States and China agreed to a 90-day tariff truce in May 2025, temporarily lowering tariffs on each other's goods following trade talks in Switzerland.
- The truce followed escalating trade tensions and included cutting U.S. Tariffs on Chinese imports from 145% to 30% and Chinese duties on U.S. Goods from 125% to 10%.
- Importers rushed to ship Chinese goods to the U.S., causing a surge in container bookings, while analysts noted increased shipping rates and potential port congestion during the peak season.
- Kenneth Loh said the tariff pause will cause a “front-loading surge” benefiting companies like Maersk and Cosco, with container rates rising up to 19% and volumes increasing over 50%.
- Despite short-term gains, analysts expect tariffs may revert after 90 days, possibly weakening demand and sustaining oversupply, while China’s Global Times urged extending the truce beyond 90 days.
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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.
·United Kingdom
Read Full ArticleOnslaught of Ship Containers in China After Agreement in the Trade War
The trade between China and the USA has just come to a halt. Now China's companies are exporting what keeps the goods - and what the freighters can transport. Because suddenly the ships and the loading stations become scarce.
·Frankfurt, Germany
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