US - China trade deal: tariffs temporarily lowered from three digits but still remain high

The US and China agreed to a 90-day truse in their trade war, suspending or cancelling sky-high tariffs they 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 signed an executive order aimed at bringing down drug prices in the US to align with what other countries are paying. 

May 12, 2025 - 18:00
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US - China trade deal: tariffs temporarily lowered from three digits but still remain high
The US and China agreed to a 90-day truse in their trade war, suspending or cancelling sky-high tariffs they 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 signed an executive order aimed at bringing down drug prices in the US to align with what other countries are paying. 
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