#TradeWarEases China and the USA have agreed to reduce tariffs on each other's goods for 90 days, providing a temporary respite in the trade war that threatens to cause a global recession and deepen the growing divide between the two largest economies in the world.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamison Greer stated at a press conference in Geneva on Monday that U.S. tariffs on Chinese goods will be reduced from 145 to 30 percent. China announced that starting Wednesday, it will cut its overall tariffs from 125 to 10 percent.