Trump Announces 90-Day Tariff Reduction Deal with China

On May 12th, 2025, President Trump announced a 90-day pause on most US-China tariffs, following productive talks in Geneva. The agreement will reduce tariff rates to 10% for the next three months. "Both sides now agreed to reduce the tariffs imposed after April 2nd to 10% for 90 days," President Trump stated. This temporary reprieve allows negotiators to continue working on broader structural trade issues. However, the agreement excludes pre-existing tariffs on items such as cars, steel, and aluminum. This development marks a significant shift in trade relations between the two economic giants, offering a potential path towards de-escalation and future cooperation.