Swiss talks between the US and China have yielded a sudden reduction in the punitive tariffs that tit-for-tatted in short order after so-called 2nd April ‘liberation day’.

US will lower their 145% tariff rate to 30% and China will reduce its 125% tariff to 10%.  There are conditions however, the principal one being that it is only for 90 days – a favourite “pause” number of Donald Trumps.

Confusion for importer – exporters, manufacturers and consumers will continue however and the economic results of all these back and forth measures won’t hit home until later in the year – not just for the main combatants but the world.

Image: Image: Shutterstock – Bigc Studio

Produced By: Roderick Chambers

Featured In Story: Tim Harcourt – Industry Professor and Chief Economist University of Technology Sydney

First aired on The Wire, Wednesday 14 May 2025