Overview

• President Trump declared on Truth Social that “China has totally violated its agreement with us” but offered no details on the alleged breach.
• Under the May 12 accord, U.S. duties on Chinese goods fell to about 30% from 145% while China cut its tariffs on American imports to 10%.
• The 90-day suspension of most April-imposed levies remains in effect as negotiators work to resolve core trade disputes.
• Trump had credited the deal with quickly stabilizing commerce between the two economies, yet his fresh allegations threaten that detente.
• The extended tariff conflict has jolted global markets and prompted countries such as India and Taiwan to realign their trade strategies.