Allowing the truce to expire would have sent tariff rates for both countries skyrocketing, dealing a major blow to trade between the world’s two largest economies. The U.S. will keep its standard tariff rate on Chinese goods at 30%, and China will keep its own rate on American goods at 10%. Shortly following his inauguration, Trump relaunched a trade war that he started in his first term, announcing tariff hikes on China. A U.S.-China policy expert explains goals amidst ongoing trade talks A U.S.-China policy expert explains what each country wants from a trade deal as top officials meet this week. Meale says China will also try to maintain its access to American technologies like higher-end semiconductors and jet engines.