#TradeWarEases Trade Truce: US and China Reduce Tariffs and Open Channel for Dialogue

Good news on the trade front! After intense negotiations in Geneva, the United States and China have agreed to a 90-day truce in their tariff dispute. Both powers will significantly reduce the tariffs they impose on each other, with the US lowering them from 145% to 30% and China from 125% to 10%.

This unexpected rapprochement, which will take effect on May 14, seeks to stem the escalation of the trade war that has intensified since April. Furthermore, they have established a permanent consultation mechanism led by senior officials to avoid future conflicts and seek more balanced trade. This respite offers hope for the global economy and highlights the willingness for dialogue between the world's two largest powers.