The current China-US trade war has indeed eased. According to the latest reports, the two countries reached an important agreement during high-level talks in Geneva, Switzerland, agreeing to significantly reduce each other's tariffs within 90 days. Specifically, the United States will lower tariffs on Chinese goods to 10%, and China will also lower tariffs on American goods to 10%.

The achievement of this agreement marks a temporary pause in the trade war that has lasted for several years. Both sides also stated that they would establish a mechanism to continue negotiations on economic and trade relations. This news boosted global markets, the dollar surged, and government bonds were sold off.

Additionally, the US Secretary of Commerce stated that the United States will launch dozens of trade agreements next month, looking forward to further easing relations with China. This series of initiatives shows that China and the US are seeking more cooperation and compromise on trade issues.

However, despite the current easing of the trade war, there remains uncertainty in the long-term trade relationship between the two sides. Economists point out that while market confidence has been boosted in the short term, the long-term 'tug-of-war' risk still exists.