U.S.-China tariff truce offers temporary relief — and plenty of uncertainty

A tariff truce between the U.S. and China announced on Monday will offer companies some relief, but also prolong the kind of economic uncertainty that makes it hard for businesses to plan for the future. 

Beginning May 14, the U.S. will lower its maximum tariff rate on Chinese imports from 145% to 30%, including a 10% baseline levy plus a fentanyl-specific 20% levy. China will reduce its 125% tariff on American goods to 10%. 

But clinching a long-term trade deal is likely to prove challenging, while the reduced 30% tariff rate could still lead to price hikes for consumers, experts told CBS MoneyWatch.