Overview

• President Trump has indicated that the 145% tariffs on Chinese imports may be significantly reduced, though not eliminated entirely.
• China's Ministry of Commerce and Foreign Ministry have officially denied any ongoing trade negotiations, calling such claims baseless.
• The U.S. Trade Representative is conducting 14 high-level meetings with foreign officials and has received 18 written offers to address tariff disputes.
• Businesses are employing evasive strategies, such as rerouting shipments and storing goods in bonded warehouses, to mitigate the impact of steep tariffs.
• Economic tensions grow as U.S. retailers warn of potential supply shortages and rising prices, while China leverages rare-earth export restrictions and other retaliatory measures.