#TrumpTariffs

US President Donald Trump proposed an 80% tariff on Chinese goods ahead of trade talks, but later agreed to reduce tariffs on Chinese imports to a minimum of 30% from the previously imposed 145%.

China, in response, agreed to lower its import duty on American goods to 10% from 125%.

The two countries also agreed to hold talks to stabilize their relationship and cut levies on each other's goods for 90 days.

Additionally, Trump cut the tariff on small parcels sent from mainland China and Hong Kong to the US from 120% to 54%.

These developments indicate a shift towards de-escalating the trade war between the US and China.