By Lisa Baertlein LOS ANGELES (Reuters) -Imports to the busiest U.S. seaport at Los Angeles dropped 9% year-on-year in May and could remain muted through the remainder of 2025, after companies responded to President Donald Trump's 145% tariffs on China by canceling or putting holds on shipments,

How much? Trump, in a post on Truth Social, said the U.S. is “getting a total of 55% tariffs.” A White House official told MarketWatch that there are no new tariffs at the moment, and that the number includes 20% tariffs on fentanyl, a 10% “reciprocal” tariff and then an average level of 25% for tariffs that were already in place before this year.

Despite a weaker US dollar, Asian equities were off overnight on growing chatter of a coming Middle East crisis and Trump’s tariff threat reiteration.

By Lisa Baertlein LOS ANGELES (Reuters) -Imports to the busiest U.S. seaport at Los Angeles dropped 9% year-on-year in May, offering insight into how many shipments were canceled or put on hold after President Donald Trump slapped tariffs of 145% on goods from China.

Furniture and bedding from China have been among the top areas where higher tariffs on goods from China have begun to impact consumer prices, according to a new chart from TD Securities. Other areas,

The United States finalized a trade deal with China on Thursday that will see tariffs on Chinese imports fall to 55 percent (from 145 percent) and Chinese

"When you think about it, in the normal course, getting quietly to do a 10% tariff on everything from everywhere was a huge achievement," Secretary Wilbur Ross tells Fortune.

Shares of Oxford Industries were falling Thursday after the company slashed its fiscal-year outlook due to increased tariff costs, leading analysts to caution investors about the challenging economic environment.