A significant truce in the trade war between the United States and China has been announced after a successful round of negotiations held in Geneva. Here are the highlights of the agreement:

Reduction of tariffs for 90 days:

The United States will reduce tariffs on Chinese goods from 145% to 30%.

China will reduce tariffs on American goods from 125% to 10%.

The goal of this step is to provide a time opportunity for deeper and more comprehensive negotiations.