#TrumpTariffs The U.S. and China reach an agreement to reduce tariffs from 145% to 30%

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The U.S. Treasury Secretary, Scott Bessent, declared that both countries will reduce their reciprocal tariffs over 90 days.

The announcement came after talks that the two countries held in Switzerland, the first since U.S. President Donald Trump imposed heavy tariffs on Chinese imports.

The enormous levies caused turbulence in the financial markets and sparked fears of a global recession.

President Trump had imposed a 145% tariff on Chinese imports, while Beijing responded with a 125% levy on some U.S. products.

Let’s hope it has a positive impact on the crypto world.