Imports at several of the busiest U.S. seaports dropped sharply in May, after President Donald Trump's short-lived 145% tariffs on many goods from China stalled trade, according to data from Descartes Datamyne.

Reportedly Beijing is only offering a concession that it had already offered a month ago to lift the blockade on shipments of rare earth minerals. The current deal may be a short-term solution for a much larger,

LONDON (AP) — President Donald Trump announced Wednesday that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will go to 55%.

U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145% tariffs took hold, supply chain technology provider Descartes said on Monday.

The stock markets dropped on Wednesday despite a seemingly positive development in the trade war between the U.S. and China alongside a better-than-expected inflation report for May. The S&P 500 dipped 0.27%, the Nasdaq fell 0.50%, and the Dow Jones closed the day essentially flat.

China has reported its exports rose 4.8% in May from a year earlier, lower than expected as shipments to the United States fell nearly 10%

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China’s emissions have fallen before. In 2022 they dipped after the country’s strict covid-19 controls strangled economic activity. But when factories restarted production, they shot back up again. This time, China’s factories are humming away even as emissions are falling.