#TradeWarEases The United States and China have agreed to a 90-day truce in their ongoing trade war, significantly reducing tariffs to enable further negotiations. The compromise will see the U.S. lowering tariffs on Chinese goods from 145% to 30%, while China will cut its tariffs on U.S. products to 10%. This de-escalation, announced during talks in Geneva, averted a near-total trade blockade and led to a global market rally, with major indices and oil prices surging. China’s Commerce Ministry emphasized that this move aligns with the interests of global producers and consumers and called on the U.S. to end unilateral tariff increases. Both parties have committed to addressing their trade differences in forthcoming discussions. Despite the progress, experts urge caution, noting the truce’s temporary nature and the need for long-term predictability in global trade. High tariffs had previously disrupted trade worth over $660 billion, with tensions exacerbated by issues such as rare earth export controls and U.S. concerns over fentanyl precursors. The business community and economic analysts welcomed the truce but stressed the importance of sustained dialogue to achieve lasting solutions.