The United States and China have agreed to a significant de-escalation in their ongoing trade war by implementing a 90-day truce that includes substantial tariff reductions. This agreement, reached during recent talks in Geneva, aims to stabilize bilateral trade relations and prevent further economic disruptions.
Tariff Reductions: The U.S. will lower
tariffs on Chinese goods from 145% to 30%, while China will reduce its tariffs on U.S. goods from 125% to 10%. (markets.businessinsider.com)
Scope of Relief: Both countries have
agreed to cancel 91% of existing tariffs and suspend an additional the 24 % during the 90 day's period
