Officials from the US and China have met in London for another round of talks aiming to end the trade war between the two nations, as new figures reveal the impact the levies have already had on shipments to the US.
Statistics from the Commerce Department revealed a fall in total imports of 20 percent in April, which marked the largest ever monthly drop following the impositions of tariffs on almost all trading partners by president Donald Trump.
In particular, US purchases from Canada and China fell to their lowest levels since 2021 and 2020 respectively. BBC News reported analysts at Oxford Economics as saying: "The April trade report indicates the impact from tariffs has well and truly arrived."
It did, however, note that the figures should be viewed with caution due to a surge in activity earlier this year, as importers sought to stockpile goods ahead of the expected duties.
While the Trump administration has claimed to be involved in trade discussions with up to 90 nations to reduce or remove tariffs, this week's talks with China are likely to be among the most significant.
Commerce secretary Howard Lutnick is leading the delegation from the US side, with China represented by officials including vice premier He Lifeng as the two sides try to resolve tensions.
Rare earth minerals are expected to be high on the agenda for the talks. These are vital for technology manufacturing in the US, but Beijing has imposed strict export controls on these components as a key part of its response to tariffs.
A series of tit-for-tat measures raised US tariffs on Chinese imports to as much as 145 percent in May before a temporary truce was agreed that brought them down to 30 percent for 90 days - a pause that is scheduled to expire on August 14th.