The White House posted a fact sheet on the U.S. trade agreement with China under which each nation will lower tariffs by 115% on goods above the de minimis threshold by May 14, 2025 while retaining the additional 10% tariff. The deal makes no change to the 120% tariff rate on shipments valued at less than $800, or a flat $100, which is set to increase to $200 on June 1st. The deal lasts 90 days to give time for U.S. and Chinese negotiators to reach a more substantive agreement.
