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Embassy of the People's Republic of China in the United States

Embassy of the People's Republic of China in the United States

Diplomatic Mission

Appears in 1 story

Stories

Iran tariffs threaten to unravel the U.S.-China trade truce

Rule Changes

Issued retaliation warning

For three months, the world's two largest economies operated under a fragile ceasefire. The Trump-Xi trade deal struck in South Korea last October reduced U.S. tariffs on Chinese goods from a peak of 145% to 47%, while China suspended its rare earth export controls. On January 12, Trump imposed a 25% tariff on all countries doing business with Iranβ€”a measure that primarily targets China, which purchases over 90% of Iran's oil exports.

Updated Jan 14