US-China to lower tariffs by May 14 for 90 days

The US-China tariff war halted trade for many companies, forcing them to pass the cost on to consumers. The US decided to implement a strategic reduction in tariffs, particularly for items of national security interest, such as medicine, steel, and semiconductors.

The 90-day temporary tariff reduction will alleviate trade tensions between the two economies and facilitate smoother negotiations. If they fail to reach a reprieve within these three months, the tariffs could revert to their previous levels.

During this period, the tariffs Trump applied earlier will remain in effect, which means automobiles, electronics, and pharmaceuticals may witness a slight price drop. These tariffs can still reduce US imports from China by 70%, Bloomberg reported.

Tim Cook expects tariffs to cost Apple $900 million in the June 2025 quarter. Apple may raise its prices, thereby transferring the cost to consumers.

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