NEWSMAX
US, China Put 90-Day Pause on Trade War With Tariffs Reduction
Monday, 12 May 2025 06:35 AM EDT
U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
Stock markets rose sharply as the globe's two major economic powers took a step back from a clash that has unsettled the global economy.
Trade Representative Jamieson Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.
The two officials struck a positive tone as they said the two sides had set up consultations to continue discussing their trade issues.
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READ MORE: https://www.newsmax.com/world/globaltalk/china-us-switzerland-tariffs-negotiations/2025/05/12/id/1210533/
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conbenho
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Nguyễn Hoài Trang
12052025
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