#TradeWarEases The United States and China agree to a 90-day trade truce to ease tensions. Under the agreement, the United States will reduce tariffs on Chinese goods from 145% to 30%, while China will reduce retaliatory tariffs on American exports from 125% to 10%.
This agreement follows intensive negotiations in Geneva, where officials from both countries met to discuss ways to alleviate escalating trade tensions. Both sides described the talks as "frank and constructive".
The truce aims to give both countries time to negotiate a comprehensive trade agreement that ends the ongoing trade war that has lasted for months. The trade war has resulted in reciprocal tariffs on hundreds of billions of dollars of goods, harming businesses and consumers in both countries.
The reduction of tariffs is expected to relieve pressure on businesses and consumers and boost trade between the two countries. However, the future of trade negotiations remains uncertain, and trade tensions could escalate again if a permanent agreement is not reached during the 90-day period.
