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Rodolphe Saade, CEO of CMA CGM SA, hailed a truce in the trade war between Washington and Beijing.

The U.S. collected a record amount of revenue from tariffs in April, helping to limit a further widening of the budget deficit.

U.S. and Chinese officials said May 12 they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks.

China’s exports to the U.S. tumbled in April while its trade with other economies surged, suggesting that tariffs are hastening a shakeup in global supply chains.

President Donald Trump on May 9 floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting among top U.S. and Chinese trade officials as he looks to de-escalate the trade war.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to meet in Switzerland with Chinese Vice Premier He Lifeng on trade in the coming days.

“No,” President Donald Trump said when asked by a reporter if he is open to pulling back his 145% duties on Chinese imports to get the world’s second-largest economy to the negotiating table.

Container liners are starting to sever shipping routes that link the U.S. and China across the Pacific, as President Donald Trump’s trade war upends the industry.

China announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump's trade war, as the two sides prepared for talks later this week.

China’s Commerce Ministry said May 2 that Beijing is evaluating multiple approaches by the Trump administration for trade talks, but steep tariffs imposed by Washington must go.