Beginning Wednesday, shipments arriving in the United States from China and Hong Kong worth less than $800 could face 54 percent tariffs.

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

The 90-day pause is a major de-escalation in the tariff war and comes after talks between both countries in Geneva.

JPMorgan reduced its forecast for the chance of a recession this year after the U.S. and China temporarily lowered the higher tariffs they imposed.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

On Monday, Former Treasury Secretary Larry Summers shared highlights on his X account from his appearance on CNN's “The Arena,” where he discussed the Trump administration's move to back off from its “extremely punitive” tariff regime against

WASHINGTON (AP) — Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.