#TradeWarEases

Breaking News:

* Preliminary trade agreement between the U.S. and China: After two days of negotiations in Geneva, Switzerland (starting from 10/05/2025), the U.S. and China have announced a preliminary trade agreement.

* "Complete reconstruction" and "significant progress": President Trump has referred to this as a "complete reconstruction" of trade relations with China and has declared "significant progress".

* Significant tariff reductions: Both the U.S. and China have agreed to significantly reduce tariffs that have been imposed in the past. The announced reduction is 115% on certain types of tariffs, while still maintaining a base tariff level of around 10%.