US and China Agree to 90-Day Tariff Reduction: A Step Towards Trade Peace?

China and the US have agreed to a 90-day tariff reduction following talks in Geneva. This decision, announced by Li Chenggang, China’s Vice Minister of Commerce, marks a significant step in easing trade tensions between the two economic giants. Chenggang stated that the agreement demonstrates a commitment to resolving differences through dialogue and mutual understanding. The temporary reduction in tariffs covers a range of goods and is intended to create a more stable environment for future trade negotiations. Experts believe this move could signal a potential de-escalation of the trade war, fostering improved economic relations between China and the US. The 90-day period will be crucial in determining the long-term trajectory of trade relations between the two countries.