As the July 9 deadline approaches, the US trade partner countries are looking to initiate deals with the Trump administration for tariffs to snap back to higher levels. Moreover, more than 100 partners are expected to see a "reciprocal" rate of 10 per cent in the coming week, where the possibility of emerging flurry deals materialises before the deadline hits.
Image source: customssuport.com
Stand of the Chinese trade partners
Currently, the US has eased the export restriction on China for conducting business with chip design software and ethane, indicating a calming trade tension between the two countries. This ease had come into being after signing an agreement in May, concluding a framework directing larger trade deals. US-based software firms like Synopsys (SNPS) and Cadence (CDNS) have also urged to continue to sell chip designing tools to respective Chinese consumers again, since the US lifted the export limitation of ethane to China a week ago.
US-China trade summary
As per the data of the United States Trade Representative, in 2024, a total of USD 582.4 billion worth of goods were traded between the US and China. US goods exports to China fell to USD 143.5 billion, showing a 2.9 per cent decline from 2023. On the other hand, the US goods imports from China rose to USD 438.9 billion, showing a 2.8 per cent rise from 2023.
As of mid-2025, aluminium imports from China to the US remain subject to a 50 per cent tariff under Section 232, following an increase announced in June. While a recent US–China agreement temporarily reduced tariffs on a broader range of goods to 10 per cent, this relief does not apply to aluminium or related products. The higher duty on aluminium remains entirely in effect, continuing to impact sourcing and trade flows between the two nations.
Events
e-Magazines
Reports
Responses
