While Donald Trump's wide-ranging taxes on imports face scrutiny in court, he has touted a new "deal" with China that will see tariffs against the country remain at historic levels. Here's what it will mean for you.

Shortly after President Donald Trump returned to the White House in January, he launched a tariff war against China, as part of a broader implementation of import taxes on goods from several dozen countries as Trump seeks to reset the foundations of global trade.

United States and Chinese officials said they had agreed on a framework for a trade truce, which removed China's export restrictions on rare earths.