#NewsTrade The US and China have agreed to sharply reduce tariffs on each other's goods for 90 days, starting May 12, 2025, after talks in Geneva, Switzerland. Under the deal, the US will reduce tariffs on Chinese imports from 145% to 30%, while China will reduce tariffs on US goods from 125% to 10%. The two sides also established a follow-up discussion mechanism to promote trade relations, led by Chinese Vice Premier He Lifeng, US Treasury Secretary Scott Bessent, and US Trade Representative Jamieson Greer. However, the US will keep a 20% tariff on fentanyl on China. The deal is seen as a step to ease tensions in the trade war, but experts warn that a long-term solution is needed to maintain stability.