China and US Strike Deal: Tariffs Slashed by 115%

China and the U.S. reached a significant agreement this weekend, temporarily slashing tariffs by 115%. The deal, announced after high-level talks in Geneva, marks a positive step in trade relations between the two economic giants. Chinese Vice Premier He Lifeng highlighted the global importance of these relations, emphasizing the need for mutual respect, peaceful coexistence, and win-win cooperation. He stated, "China-U.S. trade and economic relations are not only important to both countries, but to the world as well." This agreement, while temporary, suggests a willingness to de-escalate trade tensions and work towards a more stable economic future. The details of the agreement are still emerging, but the announcement itself is a sign of progress in a complex and often fraught relationship.