FX.co ★ U.S. and China Agree to Cut Tariffs, Pause Trade War for 90 Days

The United States and China have reached an accord to significantly reduce mutual tariffs and halt the introduction of new trade measures for a period of 90 days. This move aims to alleviate the ongoing tensions stemming from a prolonged trade conflict between the two largest economies in the world. The announcement follows trade discussions held in Geneva, Switzerland, over the weekend. These are the first high-level negotiations between Washington and Beijing since U.S. President Donald Trump implemented substantial tariffs on Chinese imports earlier this year. As per the agreement, the United States will lower its tariffs on Chinese goods from 145% to 30%, while China will decrease its tariffs on American imports from 125% to 10%, as stated in a joint declaration. Both nations underscored their commitment to continuing discussions on economic and trade policies to further capitalize on the recent progress made.