Is the Trade War Over?
The United States and China have concluded two days of high-level trade talks in Geneva.
As a result of these talks, it was announced that “significant progress” has been made toward resolving ongoing trade tensions.
Both parties have agreed to establish a new economic and trade consultation mechanism. Following these developments, a joint statement was expected to be released on May 12.
According to the statement released today, China has reduced its tariffs on U.S. goods from 125% to 10%, while the U.S. has lowered its tariffs on Chinese goods from 145% to 30%.
These tariff reductions will remain in effect for 90 days.
So, what do you think — is the trade war finally over?
