[UPDATE May 14, 2025: On Monday, May 12, representatives from the US and China agreed to two things: a 90-day pause in their ongoing international trade tiff, and a mutual de-escalation of the exorbitant tariff rates each country had imposed upon goods from the other.
On the US side, tariffs on most Chinese goods dropped from 145% to 30%. On the Chinese side, tariffs on most US goods dropped from 125% to 10% (as you may recall, the 125% amount was retaliation for the 145% amount from the US).
This is unlikely to be the last we'll hear about tariffs, but hopefully signals a future where cooler heads prevail on things that have already hurt a lot of regular people. Here's hoping the pain continues to lessen with future developments; in any case, we'll keep you updated as they arise.]
