Last week, the U.S. Commerce Department announced a deal with Taiwan related to trade and investment, giving Taiwan partial relief from the U.S. "reciprocal" and other tariffs in exchange for Taiwanese investment commitments in the U.S. semiconductor industry.

In parallel moves this week, the Trump administration established rules for the authorization of the export sale of certain advanced chips to China, and also set a tariff that serves as an indirect way to collect revenue on those sales.

China has overhauled its tariff structure for the new year, lowering tariff rates temporarily for 935 tariff items. The target of this move is high-tech components, green materials and medical goods, as China looks to upgrade its industrial base and support its climate and public health goals.

Mexico's Congress has approved a proposal to raise tariffs for more than 1,400 products from China and other trading partners that do not have a trade agreement with the country. This action has drawn criticism from Beijing, which has an ongoing investigation on the tariffs.

Today, the Chinese government announced a rollback of some retaliatory measures, including tariffs on key agricultural products and sanctions on U.S. entities, as Beijing took another step to implement a recent trade deal with the United States to deescalate the ongoing economic tensions.

Last week, China and the U.S. announced that they had reached an agreement resulting in the temporary suspension of specific tariffs and non-tariff measures. This piece focuses on the relief from the Chinese side, which remains conditional and subject to further regulatory action.

In a fact sheet published yesterday, the Trump administration offered its perspective on what had been agreed to with China as part of recent talks.