A temporary pause on tariffs marks the latest chapter in the ongoing United States-China trade tensions.U.S. stocks rose sharply following the announcement of its tariff pause. The S&P 500 climbed 2.7 percent in early trading, while the Dow Jones Industrial Average soared by 981 points, or 2.4 percent. The Nasdaq composite led gains with a 3.7 percent rise.China Tariffs on U.S. in 2024China adjusted MFN (most-favored-nation) tariff rates for 2024 in January 2025, according to the Peterson Institute for International Economics. This applies to countries that are part of the World Trade Organization unless a trade agreement is established.In 2024, China's approach to U.S. tariffs remained relatively restrained. The country largely maintained the tariff structure it had implemented in previous years, which included retaliatory measures on key U.S. exports like agricultural products, vehicles, and machinery.China's moves were partially shaped by efforts to stabilize relations following the Biden administration's continuation of tariffs President Donald Trump set during his first term.President Joe Biden kept roughly all Trump-era duties. In September 2024, Biden finalized increased tariffs on Chinese solar panels, steel, aluminum and medical devices. From September 27, rates increased to 100 percent for electric vehicles, 50 percent for solar cells, and 25 percent on EV batteries, critical minerals, steel, aluminum and ship-to-shore cranes.China Tariffs on U.S. in 2025: Trade War Tensions RiseEarlier this year, Trump increased tariffs on all Chinese imports by 10 percent, spurring what many consider an international trade war.China retaliated with 10 to 15 percent tariffs on U.S. coal, liquefied natural gas products, and agricultural equipment. Trump also announced a 25 percent tariff on all steel and aluminum products coming into the U.S.By March, China's duties were raised by another 10 percent to a 20 percent baseline. Beijing responded again with new tariffs on U.S. agricultural products. The same month, Trump announced a 25 percent tariff on automobiles and auto parts.Trump announced reciprocal tariffs on countries worldwide on April 2, his "Liberation Day." At that time, China was hit with a 34 percent reciprocal tariff due to what the administration calculated as its 67 percent tariff on U.S. imports. China later retaliated with an 84 percent tariff on U.S. goods.Current Tariffs in U.S. and China and Temporary PauseAside from a handful of exempted products, U.S. tariffs on Chinese imports are 145 percent, while China taxes U.S. goods at 125 percent.On May 11, the U.S. and China agreed to a 90-day pause in their ongoing trade conflict. The two countries released a joint statement outlining a significant but temporary reduction in tariffs.Speaking from Switzerland on Monday, U.S. Treasury Secretary Scott Bessent announced that China and the U.S. agreed to cut their tariffs on each other's imports by 115 percent.As part of the deal, both nations will roll back most of the tariffs that some economists had warned might trigger a recession.