#TradeWarEases A China and the United States have agreed to significantly reduce tariffs between each other and form a mechanism to start trade negotiations in the next 90 days.

According to a joint US-China statement released on Monday, the US will reduce its tariffs on Chinese products from 145% to 30%. This includes a 10% tariff imposed by most other countries and a 20% tariff, while China strives to stop the export of fentanyl precursors to the US.