#TradeWarEases Great news that trade tensions have eased! Following recent talks in Geneva, the United States and China agreed to a 90-day suspension of some of the tariffs imposed on each other.

Here’s a brief summary of the key points:

* Bilateral agreement: The US and China jointly announced this agreement after two days of negotiations.

* Tariff reduction: Both countries will suspend part (24 percentage points) of their additional tariffs for 90 days, effectively lowering the tariff rate to 10% on affected goods during this period. Some tariffs from previous executive orders from April will also be rolled back by the US.

* China’s response: China will also suspend retaliatory tariffs and non-tariff measures that they had implemented.

* Continuation of dialogue: Both sides emphasized the importance of their economic relationship and agreed to continue talks, establishing a mechanism for ongoing negotiations.

* Market reaction: Global markets reacted positively to this news, indicating relief associated with de-escalation.

This move is seen as a positive step towards stabilizing the global economy and opens a window for further negotiations that could potentially lead to a lasting easing of trade tensions. However, it should be noted that some tariffs from the past remain in effect, and the situation may change after the 90-day period.