In a recent development, the US and China have paused their reciprocal tariffs. This move comes as a relief to businesses and consumers who had been affected by the ongoing trade tensions between the two nations.

According to reports, the pause in tariffs is temporary and will be reviewed periodically. The decision to suspend the tariffs was made after consultations with various stakeholders, including industry representatives and lawmakers.

The US Customs and Border Protection (CBP) has released its monthly update on import and export data. The report highlights the trends and statistics of international trade between the US and other countries.

• The CBP report shows that imports from China decreased by 10% in April compared to the same month last year.
• Exports to Canada increased by 15% in March compared to the same month last year.

A recent court case involving the International Emergency Economic Powers Act (IEEPA) has shed light on the complexities of trade regulations. The case involves a company that was penalized for violating IEEPA rules.

“The IEEPA tariffs are a necessary measure to protect national security,” said a government official.