Trump Tariff Tracker -- May 14

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 aframeworkoutlining 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