#TradeWarEases
China and US agree to ease tariffs for 90 days as trade war talks extended
Some ‘reciprocal’ tariffs and duties are being rolled back in favour of ‘mutually beneficial’ talks.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer attend a news conference after talks with Chinese officials in Geneva, Switzerland, May 12, 2025 [Olivia Le Poidevin/Reuters]
China and the United States have agreed to suspend some of the heavy trade tariffs imposed against one another as they prepare to extend negotiations aimed at lowering trade war tensions.
The two countries issued a joint statement on Monday, following two days of trade talks in Geneva, Switzerland. They described the negotiations, which came after US President Donald Trump’s nationalist agenda prompted a spiral of increasingly heavy duties, as positive.
Global markets reacted positively to the news, with stock markets in Hong Kong, the US and Europe rising
