Bilateral negotiations around the Trump Administration’s tariffs have begun to bear fruit as we see tariff relief for China and the U.K.
The U.S. and China have agreed to roll back most of the tariffs that each country has imposed on the other in recent months for 90 days while discussions aimed at achieving a permanent trade deal continue. The U.S. will reduce the reciprocal tariff rate on Chinese goods to 10 percent, with the tariff rate on items valued at less than $800 reduced to 54 percent, down from 120 percent. China will reduce tariffs on U.S. imports to 10 percent, down from 125 percent, and remove certain non-tariff countermeasures.
The U.S. and the U.K. have agreed upon a framework outlining the structure and priority areas for the U.S.-UK Economic Prosperity Deal, a new bilateral trade deal expected to be finalized later this year. The framework focuses on reducing tariffs and non-tariff barriers across various economic sectors, including quotas for imports of steel, aluminum, and automotive products at reduced tariff rates. This framework may be a basis for future trade agreements between the U.S. and other trading partners.
Even with the recent announcements of tariff relief measures, new industries continue to face the prospect of looming tariff rate increases. The Commerce Department has initiated another Section 232 Investigation, this time on imports of commercial aircraft and jet engines, and parts for commercial aircraft and jet engines. Interested parties can submit to the Commerce Department written comments, data, analyses, or information pertinent to this investigation by June 3, 2025.
Keeping track of all of the tariffs that have been promulgated or proposed during the Trump Administration continues to be a head-spinning task. To help follow the proliferation of tariffs in the Trump Administration, I have put together the following list of each of the tariff measures that have been implemented, pending, or proposed since January 20, 2025.
Here is the developing landscape of U.S. tariffs as of May 14, 2025:
This list will be updated weekly as new tariffs are implemented and new targets for tariffs are identified by President Trump and the administration.
