US-China trade deal: Tariffs temporarily lowered from three digits, but remain high

The US and China have agreed to a 90-day truce in their trade war, suspending or cancelling the sky-high tariffs they had imposed on each other's goods since April, but underlying issues still need to be addressed over the next three months. "The devil is in the details," says Maurizio Zanardi, professor of economics at the University of Sussex. Plus, Donald Trump signs an executive order aimed at bringing down drug prices in the US to align with what other countries are paying. 

May 13, 2025 - 06:00
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US-China trade deal: Tariffs temporarily lowered from three digits, but remain high
The US and China have agreed to a 90-day truce in their trade war, suspending or cancelling the sky-high tariffs they had imposed on each other's goods since April, but underlying issues still need to be addressed over the next three months. "The devil is in the details," says Maurizio Zanardi, professor of economics at the University of Sussex. Plus, Donald Trump signs an executive order aimed at bringing down drug prices in the US to align with what other countries are paying. 
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