Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration. Returning to the White House this year,

Beijing has gained time to build up its own strengths by drawing out negotiations with the United States, using its chokehold over critical minerals

How much? Trump, in a post on Truth Social, said the U.S. is “getting a total of 55% tariffs.” A White House official told MarketWatch that there are no new tariffs at the moment, and that the number includes 20% tariffs on fentanyl, a 10% “reciprocal” tariff and then an average level of 25% for tariffs that were already in place before this year.

PARIS/LONDON] Negotiators representing French cognac producers suggested minimum prices for exports to China of between US$20 and around US$300 per litre as an opening bid in talks aimed at ending a tariff stand-off with China,

To recap, currently the tit-for-tat trade war between Beijing and Washington D.C. has entered something of a truce, with Treasury Secretary Scott Bessent announcing a 90-day pause in May. Both sides agreed to lower their rates by 115%, meaning Bejing faces a 30% tariff and the U.S. faces a 10% tariff.

The US and China agreed to a framework and implementation plan to ease trade tensions on Tuesday. “We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick said.

China extended on Tuesday a high-profile investigation into imported pork from the European Union by six months, days before it was due to wrap up and as negotiators from Brussels and Beijing carve out a deal over the bloc's electric vehicle tariffs.

China returns to trade talks with the U.S. holding, from its view, a strong hand: Its economy is bearing up better than expected. And it has an ace card: rare earths.