The U.S. and China have agreed to ease recent tariff measures as part of a 90-day pause in their trade dispute, effective by May 14, 2025. Each side will lower tariffs by 115% while keeping a 10% base tariff in place. They will also roll back specific additional tariffs and non-tariff countermeasures imposed in early April 2025. Both countries committed to ongoing dialogue, with designated representatives from each side, to pursue a more stable and mutually beneficial trade relationship.

A fact sheet was released by the White House which highlights:

• China will suspend its 34% retaliatory tariff, and the U.S. will suspend its matching tariff while retaining a baseline 10% tariff
• Earlier trade measures like Section 301 and Section 232 tariffs will remain in place

Details regarding the exact start times and whether the changes will be retroactive have not been released yet. Our team will continue to monitor these changes and provide an update when additional details on HTS codes are released.

Since it is still unclear whether the changes will be retroactive, please reach out to your Mallory Alexander representative or our M-PACT team for further assistance with calculating tariffs by HTS code.