#TradeWarEases #TradeWarEases 🇺🇸🇨🇳Trade Truce: The U.S. and China Reduce Tariffs and Open Dialogue Channel

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 imposed on each other, with the U.S. lowering from 145% to 30% and China from 125% to 10%.

This unexpected rapprochement, which will come into effect on May 14, aims to halt the escalation of the trade war that intensified since April. Additionally, they have established a permanent consultation mechanism led by senior officials to prevent future conflicts and seek a more balanced trade. This respite offers hope for the global economy and highlights the willingness for dialogue between the two largest powers in the world.