#tradewareasess The U.S. and China have agreed to a 90-day suspension of certain tariffs, signaling a de-escalation in their ongoing trade tensions. This agreement follows two days of negotiations in Geneva, Switzerland, and is seen as a p stabilizing the economy

Key Details of the Agreement

Tariff Reductions: The U.S. will reduce its additional ad valorem duties by 24%, maintaining a 10% tariff rate on Chinese imports. China will reciprocate by lowering its duties on U.S. goods by a similar margin, also retaining a 10% tariff. Both countries will suspend tariffs imposed through recent executive orders and non-tariff countermeasures.

Extended Negotiations: The agreement includes a framework for continued discussions, with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer leading the talks for the U.S., and China's Vice Premier He Lifeng heading the Chinese delegation.

Market Reaction: Global markets responded positively to the news, with stock indices such as the S&P 500, Nasdaq-100, and Dow Jones Industrial Average experiencing gains.

This development marks a significant step toward reducing trade tensions between the world's two largest economies.