US China Trade Talks Reach Breakthrough Trump Administration Secures New Tariff Framework with Reduced Duties on Both Sides
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US China Trade Talks Reach Breakthrough Trump Administration Secures New Tariff Framework with Reduced Duties on Both Sides
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The US-China trade relationship remains at the center of global economic attention this June, with significant shifts in the tariff landscape following months of negotiations and policy changes. The Trump administration has solidified a baseline reciprocal tariff of 10 percent on all Chinese imports under the International Emergency Economic Powers Act, effective since April 5, 2025, as reported by FreightWaves. This forms the foundation of the current tariff regime.
On top of the 10 percent baseline, specific Chinese imports linked to fentanyl precursor chemicals have faced an additional 20 percent tariff since February of this year. Furthermore, certain goods, particularly electronics and products tied to allegations of intellectual property theft, are subject to Section 301 measures, bringing their total tariff rates to 35 percent. For example, imports of electronics under Section 301 currently see a 35 percent duty, while non-fentanyl, non-Section 301 goods such as apparel are levied at the 10 percent baseline.
High-level negotiations in London earlier this month produced a pending framework agreement between the United States and China. This deal, still awaiting final signatures from Presidents Trump and Xi, is designed to stabilize trade relations and address persistent disputes, including China’s controls on rare earth exports and the US effort to secure a reliable semiconductor supply. According to FreightWaves, the agreement builds on consensus reached in Geneva in May and seeks to balance trade imbalances, crack down on fentanyl-related shipments, and deter unfair trade practices.
The White House recently highlighted in an official fact sheet that as part of these negotiations, both the US and China agreed to lower some of the steep tariffs implemented earlier in the year. Each side is reducing tariffs by 115 percent while retaining a 10 percent tariff as a baseline, with China suspending its recent retaliatory tariffs for a 90-day period. This marks a major de-escalation from the peak in early May, when average US tariffs on Chinese imports reached as high as 126.5 percent, as the Peterson Institute for International Economics reports.
Analysts from Yale’s Budget Lab note that the average effective US tariff rate on Chinese imports has stabilized at around 10 percent under current policy, following a sharp climb earlier in the year. The Trump administration’s broader strategy involves a global application of reciprocal tariffs, with the China policy serving as a central model.
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