US and China Call a Truce in Their Trade War

US and China Agree to 90-Day Truce in Trade War The United States and China reached a significant agreement on Monday, declaring a 90-day truce in their escalating trade war. The deal involves substantial reductions in reciprocal tariffs, bringing China’s tariff rate down to a mere 10%. This development marks a potential turning point in the tense relationship between the two economic powerhouses. According to reports from the press conference announcing the truce, the consensus from both delegations is that neither side desires a complete decoupling of their economies. Instead, both nations expressed commitment to achieving a more balanced trade relationship. One delegate stated, "We do want trade. We want more balanced trade," highlighting the shared desire for continued economic engagement. The 90-day truce provides a window of opportunity for negotiations and potential resolutions to the long-standing trade disputes. The significant tariff reductions signal a willingness from both sides to de-escalate tensions and work towards a more mutually beneficial economic future. This agreement offers a beacon of hope for global economic stability and cooperation.