- Major Trade Agreements Announced: The US signed the Economic Prosperity Deal with the UK on May 8 and reached a tariff-reduction deal with China on May 12, lowering tariffs on many Chinese goods to 30% during a 90-day pause starting May 14.
- Tariff Uncertainty Remains: If no broader agreements are finalized by July, reciprocal tariffs introduced on April 2 will be reinstated, and imports from other countries may also face increased rates.
- Court Blocks Key Tariffs: On May 28, a US court ruled President Trump overstepped his authority under IEEPA in imposing certain tariffs, though the appellate court allowed them to remain during the appeal process.
Source PwC
Latest Posts in "United States"
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