The United States and China agree to a 90-day trade truce to ease tensions. Under the agreement, the United States will reduce tariffs on Chinese goods from 145% to 30%, while China will lower retaliatory tariffs on American exports from 125% to 10%.

This agreement comes after intensive negotiations in Geneva, where officials from both countries met to discuss ways to alleviate rising trade tensions. Both sides described the talks as 'frank and constructive'.

The truce aims to give both countries time to negotiate a comprehensive trade agreement that ends the trade war that has been ongoing for months. The trade war has led to reciprocal tariffs on hundreds of billions of dollars of goods, harming businesses and consumers in both countries.

The expected reduction in tariffs is anticipated to relieve pressure on businesses and consumers and enhance trade between the two nations. However, the future of trade negotiations remains uncertain, and trade tensions could escalate again if a lasting agreement is not reached within the 90-day period.

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