China-U.S. one-year trade & tariff truce takes effect
Update: 2025-11-12
Description
Over the last few days, the economic and trade agreements reached between China and the U.S. in Kuala Lumpur last month have started to take effect. The U.S. has removed the 10% so-called Fentanyl tariff and suspended, for one year, the 24% reciprocal tariffs on Chinese goods, and China has reciprocated by adjusting its tariff countermeasures. Both sides have also suspended port fees against each other for one year. Will the truce hold? Do we need to manage our expectations? How to keep things on the right track?
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