$BTC

$BTC #NewsTrade The United States and China have agreed to drastically reduce tariffs on each other's goods for 90 days, starting May 12, 2025, following negotiations in Geneva, Switzerland. According to the agreement, the United States reduces import tariffs on Chinese products from 145% to 30%, while China reduces tariffs on American products from 125% to 10%. Both parties also established a subsequent discussion mechanism to boost trade relations, led by Chinese Vice Premier He Lifeng, U.S. Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer. However, the United States maintains a 20% tariff related to fentanyl on China. This agreement is seen as a step to reduce tensions in the trade war, but experts warn that long-term solutions are needed to maintain stability.