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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.

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South China Morning Post broke the news in Hong Kong on Thursday, May 15, 2025.
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