#TradeWarEases Yes, your information is correct. On May 12, 2025, the United States and China announced a significant de-escalation in their ongoing trade conflict by agreeing to temporarily reduce tariffs for 90 days. 

Under the agreement, the U.S. will lower tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on U.S. imports from 125% to 10% . This development follows months of escalating tariffs that had strained global markets and supply chains. 

The negotiations took place in Geneva and were led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. Both sides have also agreed to establish a permanent mechanism for dialogue to prevent future trade conflicts .  

Financial markets responded positively to the news, with the S&P 500 futures rising and the U.S. dollar strengthening . 

While this agreement marks a significant step toward resolving trade tensions, it is a temporary measure, and further negotiations will be necessary to achieve a long-term solution.