#TradeWarEases

After the meetings between government representatives from China and the U.S. in Switzerland with "substantial progress," more details of the agreements were revealed this Monday. The most important of these was the reduction of tariffs between both nations for a period of 90 days. According to Reuters, the United States suspends all tariffs imposed on China this year. This allows tariffs on that nation to drop from 145% to 30%. Meanwhile, China announced an equivalent measure, reducing tariffs on American products entering its ports from 125% to 10%. Although this is a temporary period of 90 days, it reflects a clear intention for de-escalation.