<ul><li>US and China have agreed to a 90-day pause on most recent tariffs following talks in Switzerland.</li><li>US will reduce its combined tariff rate on Chinese imports from 145% to 30%, while China will drop its levies on US imports to 10% from 125%.</li><li>The new tariff rates are set to come into effect on May 14, 2025.</li><li>Another recent deal between the US and the UK includes tax-free steel and aluminium imports and a reduced import tax of 10% for the first 100,000 vehicles from the UK.</li></ul>

US and China agree to 90-day pause on most recent tariffs – US tariffs reduced to 30%, China drops to 10%

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