The US and China are locked in a trade war, with tariffs reaching 145% on Chinese goods and 125% on goods imported from the US. Talks between US and Chinese officials are set to take place in Switzerland this weekend.
Catalysts host Madison Mills breaks down the timeline of President Trump's tariff policies in 2025.
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Here's where things stand between the US and China amid the ongoing trade war. The US has 145% effective tariff rate on all goods from China. China has 125% rate on all US goods, though it's reportedly made some except exceptions for certain goods. So how do we get here? One of Trump's key promises on the 2024 campaign trail was imposing 60% tariffs on all Chinese imports to the US. He took early action in February, adding a 10% tariff on Chinese goods, which he raised to 20% in March. Then, as part of his April 2nd liberation day push, Trump announced another big hike, bringing the cumulative rate to 54%. China responded with a 34% tariff on all US goods in the following days. Both sides continue to ratchet up rates. On April 9th, one week later, Trump paused tariffs on several other trading partners for 90 days, but boosted China's rate to 145%. China hit back with 125% tax on US goods. But the president and members of his administration have hinted that China tariffs could come down significantly after this weekend's talks. President Trump on Friday posting on Truth Social that an 80% tariff on China seems right. The Trump administration is weighing tariff cuts with talks set to take place between the two nations this weekend. Bloomberg reporting members of the administration are targeting a 60% tariff rate, while President Trump said 80% seems right. The president adding that the final rate would be up to Treasury Secretary Scott Beeston. Beeston joined by US trade representative Jameson Greer will participate in talks with Chinese officials on Saturday.