While Donald Trump's wide-ranging taxes on imports face scrutiny in court, he has touted a new "deal" with China that will see tariffs against the country remain at historic levels. Here's what it will mean for you.

The US has reached a new trade agreement with China under which all Chinese imports will face a 55% tariff, while American exports to China will be subject to a reduced 10% tariff. This was the result of two days of talks between diplomats from the two nations in London.

BEIJING (Reuters) -Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration.