#TradeWarEases Hot 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 restructuring" and "significant progress": President Trump referred to this as a "complete restructuring" of trade relations with China and announced "significant progress".

* Significant tariff reductions: Both the US and China agreed to significantly reduce the tariffs imposed in the past. The announced reduction is 115% for certain types of tariffs, however, the base tariff rate remains around 10%.