Here is an update on tariffs specifically concerning trade between the US and China, based on information available as of April 23, 2025: Current US Tariffs on Chinese Imports: High Overall Rate: The most significant recent development is the dramatic increase in US tariffs on Chinese goods. As of April 10, 2025, the US imposed an additional 125% "reciprocal tariff" on virtually all imports from China (including Hong Kong and Macau).   Stacked Tariffs: This 125% reciprocal tariff is in addition to a pre-existing 20% tariff implemented earlier in 2025 under the International Emergency Economic Powers Act (IEEPA - sometimes referred to as the fentanyl tariff). This brings the total additional tariff rate on most Chinese goods to 145%. These tariffs are applied on top of any standard base duties or older Section 301 tariffs that might still be in place for specific goods.   Rapid Escalation: This 145% level was reached after rapid escalations in early April 2025. The reciprocal tariff rate on China went from 34% (announced April 2) to 84% (April 9) and finally to 125% (April 10) in response to Chinese retaliatory actions.   Exclusion from Pause: China was explicitly excluded from the 90-day pause on higher reciprocal tariffs that the US granted to most other trading partners starting April 10. Exemptions for Electronics: On April 11, 2025, the White House issued a clarification exempting certain electronic products from the reciprocal tariffs (both the 125% China-specific rate and the general 10% baseline).   Affected Products: This exemption includes items like smartphones, laptops, automatic data processing machines, specific semiconductor devices, solid-state storage devices, flat-panel displays, and related components/manufacturing apparatus listed under specific HTSUS codes (e.g., 8471, 8486, 8517.13.00, 8523.51.00, 8524, parts of 8541/8542). Important Note: While exempt from the reciprocal tariffs, these electronic goods remain subject to other applicable duties, including the 20% IEEPA tariff mentioned earlier. President Trump has also hinted at potential future tariffs specifically targeting semiconductors.   De Minimis Rule Change (Low-Value Shipments): The $800 de minimis threshold, which allowed low-value shipments to enter the US duty-free, is being eliminated for goods originating from China and Hong Kong, effective May 2, 2025.   Starting May 2, these shipments will face new duties calculated as the greater of: A 120% ad valorem tariff (based on the item's value). A $100 per postal item fee. This per-item fee is scheduled to increase further to $200 starting June 1, 2025.   This change significantly impacts e-commerce platforms like Shein and Temu, which rely heavily on this provision; both have announced upcoming price increases for US customers.   China's Retaliatory Tariffs: China matched the US escalations in early April. Effective April 12, 2025, China imposed an additional 125% retaliatory tariff on imports of US goods. China has also implemented non-tariff measures, such as adding US companies to its Export Control List and Unreliable Entity List, and reportedly suspending exports of certain minerals and magnets.   Negotiations and Outlook: Despite the high tariffs, there have been recent signals suggesting a potential shift. President Trump stated the 145% rate on China would "come down substantially" but "won't be zero." US Treasury Secretary Scott Bessent called the situation "unsustainable" and expects de-escalation, though formal talks had not yet started.   China responded to these signals by stating its "doors are wide open" for dialogue based on mutual respect and equality, while warning other countries against making deals with the US that harm Chinese interests.   In summary, US-China trade relations are currently marked by extremely high tariffs (145% US rate on most Chinese goods, 125% Chinese retaliation on US goods), although key electronics are exempt from the highest layer of US reciprocal tariffs. The elimination of the de minimis exemption for Chinese goods starting May 2nd is another significant change. While tensions remain very high, recent statements from both sides indicate a potential, albeit uncertain, path towards negotiation and possible de-escalation from the peak tariff rates.