#TradeWarEases

News:

* Preliminary trade agreement between the US and China: After two days of negotiations in Geneva, Switzerland (starting from May 10, 2025), the US and China announced that they have reached a preliminary trade agreement.

* "Complete reconstruction" and "significant progress": President Trump referred to this as a "complete reconstruction" in trade relations with China and declared "significant progress".

* Significant tariff reductions: Both the US and China agreed to significantly reduce tariffs that have been imposed in the past. The announced reduction is 115% for certain types of tariffs, while still maintaining a base tariff level of around 10%.