What is happening with the topic "#Trade_War_Easing". About what a trade war is. As far as I remember, a trade war occurs when countries impose tariffs or other trade barriers on each other's goods, usually in response to something. For example, if country (A) imposes tariffs on country (B)'s steel,

The United States and China reached an important agreement to ease their ongoing trade war by significantly reducing tariffs over the next ninety days. Following high-level talks in Geneva, the United States will cut tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on American imports from 125% to 10%. This development had a positive impact on global markets. U.S. stock futures rose, with S&P 500 futures increasing by 2.8%, and the U.S. dollar rising by 0.7%. In contrast, gold prices fell by 2.3%, indicating a shift in investor sentiment towards higher-risk assets. The agreement also includes the establishment of a new consultation mechanism to guide future negotiations. While tariffs related to fentanyl remain in place, both countries expressed their commitment to continue dialogue and build balanced trade relations.