- Markets barely reacted as President Trump extended the U.S.-China trade truce for another 90 days, keeping tariffs at 30% for the U.S. and 10% for China. Despite hints that Beijing and Washington are closing in on a deal, trading patterns for early 2025 show that U.S. importers are steering clear of working directly with China.
This time last year, if the U.S. had been on the brink of a 145% tariff increase on exports from China, markets would have been in meltdown. They would have spiraled even further if they believed a reciprocal 125% hike would be put in place by Beijing.
