Beginning Wednesday, shipments arriving in the United States from China and Hong Kong worth less than $800 could face 54 percent tariffs.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

President Donald Trump's tariffs on Chinese imports, which reached 145% in April, prompted waves of U.S. customers to suspend or delay orders for festive decorations, disrupting business for the likes of Lou Xiaobo, whose company Xubo relies on the U.S. for 20% of sales.

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

The Trump administration drops the tariff rate on packages from China valued at under $800 from 120% to 54%, but that's still pretty high for a Shein haul.

A handful of companies could make or break Trump’s AI plans, Reva Goujon and Ben Reynolds write in a guest commentary.

President Donald Trump says he will likely speak with China’s leader Xi Jinping “maybe at the end of the week.”