Breaking Trade News: China Deal “Done,” CAFC Tariff Ruling, May CPI Report
Here is a recap of the latest customs and international trade news:
Administration
- President Trump announced that the trade deal with China is done, subject to final approval by him and President Xi. In the announcement, the President noted that the China tariff rate would be adjusted to 55%.
- The U.S. Court of Appeals for the Federal Circuit stayed the Court of International Trade’s permanent injunction on President Trump’s executive orders implementing tariffs under IEEPA. The case will now be heard by the full bench of active judges in an en banc session on July 31, 2025.
- Treasury Secretary Scott Bessent said that Trump is “likely” to push back the July deadline for reciprocal tariffs.
Industry News:
- The May Consumer Price Index showed steady inflation and cost of goods, despite economists’ forecasts of increases due to tariffs and trade volatility.
- India Prime Minister Modi and Industry Minister Goyal said that the U.S. and India are on track to sign a trade deal very soon.
Customs and Border Protection (CBP)

