The Vision Council (TVC) has issued a statement regarding the agreement between the U.S. and China to temporarily reduce tariffs on billions of dollars’ worth of goods, providing short-term relief to industries impacted by ongoing trade tensions, including the optical and vision care sectors. Announced on May 12, the agreement lowers reciprocal tariffs on imports and exports between the two countries for a 90-day period, effective May 14.

Under the terms of the agreement, the U.S. will reduce its reciprocal tariff on Chinese-origin goods from 125% to 10%. China will implement a corresponding reduction on U.S.-origin exports, lowering its reciprocal tariff from 125% to 10%. These reductions are scheduled to remain in place until August 2025, unless extended through further negotiations.

According to a Fact Sheet from the White House, starting May 14, importers of Chinese-origin goods will face multiple layers of duties:

• The Most Favored Nation (MFN) duties vary by product category.
• Section 301 duties, ranging from 7.5% to 25%, are applied in response to unfair trade practices.
• Added on top of the MFN and Section 301 duties, the “China IEEPA fentanyl” duties were introduced in March at 20% to address national security risks linked to the fentanyl crisis.
• A temporary 10% “reciprocal duty” on all Chinese-origin goods will rise to 34% after 90 days unless further action is taken. This duty is cumulative, stacking on top of the other listed duties.

TVC shares an example using plastic spectacle frames imported from China: Previously facing a combined tariff of approximately 155%, these frames will be subject to an estimated 40% total duty during the 90-day period. If no further agreements are reached, the reciprocal tariff is scheduled to rise to 34% in August, increasing the total tariff burden for those goods to about 64%.

On the export side, U.S. goods shipped to China will be subject to a 10% reciprocal tariff, in addition to any existing Chinese import duties.

TVC shares it will update its tariff resources, including online tables and dashboards, to reflect the new rates.