The United States and China have agreed to significantly reduce reciprocal tariffs in a bid to ease ongoing trade tensions that have rattled global markets. U.S. Treasury Secretary Scott Bessent announced the deal after talks with Chinese officials in Geneva, stating both countries will implement a 90-day pause on new trade measures and slash existing tariffs by 115 percent.
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U.S. and China Agree to Slash Tariffs by 115% in Major Trade Breakthrough
The move marks a major step toward resolving a long-running trade war that has disrupted international supply chains and investor confidence. The agreement is expected to calm financial markets and foster a more cooperative economic environment between the two superpowers.
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