How much? Trump, in a post on Truth Social, said the U.S. is “getting a total of 55% tariffs.” A White House official told MarketWatch that there are no new tariffs at the moment, and that the number includes 20% tariffs on fentanyl, a 10% “reciprocal” tariff and then an average level of 25% for tariffs that were already in place before this year.

And Trump’s own comments created confusion about what was happening to his taxes – tariffs — on Chinese imports, generating uncertainty about more than $660 billion in annual trade between the two countries.

That's the total value of pharmaceuticals China imported last year, up from $27 billion in 2017. Despite Beijing's drive for economic self-sufficiency, it has continued to welcome U.S. medical supplie

Underscoring the U.S. tariff impact on shipments, customs data showed that China's exports to the U.S. plunged 34.5% year-on-year in May in value terms, the sharpest drop since February 2020, when the outbreak of the COVID-19 pandemic upended global trade.

To recap, currently the tit-for-tat trade war between Beijing and Washington D.C. has entered something of a truce, with Treasury Secretary Scott Bessent announcing a 90-day pause in May. Both sides agreed to lower their rates by 115%, meaning Bejing faces a 30% tariff and the U.S. faces a 10% tariff.

China has blasted the U.S. for issuing AI chip export control guidelines, stopping the sale of chip design software to China, and planning to revoke Chinese student visas.

PARIS/LONDON (Reuters) -Negotiators representing French cognac producers suggested minimum prices for exports to China of between $20 and around $300 per litre as an opening bid in talks aimed at ending a tariff stand-off with China, a document seen by Reuters shows.