TARIFF CUT OFF EASES TRADE WAR

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US and China agree to slash reciprocal tariffs in major step toward easing Trade War. They agreed to a 90-day pause ⏯️ on most of the tariffs imposed on each other since last month. It is a major step toward easing a Trade War between the two powers that has rattled the Global Economy.

US Tariffs on Chinese imports will be cut to 30% from 145%. It means the tariff rate will be 115%.

China levies on US imports will be cut to 10% from 125%. It means the rate of tariff will be 115%.

They met in Geneva, Switzerland to discuss the mounting tariffs, that was a hurdle for trade.

They declared - They would establish a mechanism to continue discussion about economy and trade related issues.

The US delegates were Scott Bessent and Jamieson Greer and Chinese delegate was Vice Premier He Lifeng. #tradewar #TradeWarEases