US and China Agree to Slash Tariffs, Marking Major Step in Trade War De-Escalation

The United States and China have agreed to a 90-day reduction in tariffs, marking a significant de-escalation in their ongoing trade war. Under this agreement, U.S. tariffs on Chinese goods will decrease from 145% to 30%, while China’s tariffs on U.S. goods will drop from 125% to 10%. This move follows productive talks in Geneva and aims to alleviate global economic tensions. Markets responded positively, with major indices surging and investor confidence rising. However, experts caution that this is a temporary measure, and underlying trade issues remain unresolved.