An agreement between Chinese and US negotiators to reduce tariffs by 115% and hold fire in their trade dispute for 90 days has further complicated shippers’ logistical choices, as carriers also consider the outcome of the weekend’s discussions in Switzerland.
US Trade Secretary Scott Bessent and China’s Vice Premier He Lifeng were locked in negotiations over the weekend following the ramping up of rhetoric over trade and tariffs in the last few weeks that saw import duties of 145% imposed on Chinese goods by Washington, and Beijing responding with 125% tariffs on US cargo.
The deal to reduce the tariffs by over 100% has left US import cargo from China with 30% taxes, while China’s US imports will be faced with 10% tariffs with effect from 14 May. On that same day, the pause in the 90-day trade dispute will begin to count down, as the details of future trade between the two nations are negotiated.
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