US and China Reach Breakthrough Deal to Reduce Tariffs

US and China Agree to Slash Tariffs in 90-Day Trade Truce Geneva, Switzerland – In a significant development in the ongoing US-China trade dispute, the two nations have announced a deal to substantially cut reciprocal tariffs. The agreement, announced by US Treasury Secretary Scott Bessent, includes a 90-day pause on further tariff increases. This temporary truce aims to de-escalate tensions and pave the way for a more balanced and sustainable trade relationship. "We have reached an agreement on a 90-day pause and substantially moved down the tariff levels," Secretary Bessent stated. "Neither side wants a decoupling. We do want trade. We want more balanced trade. And I think that both sides are committed to achieving that." The agreement marks a crucial step in resolving a trade war that has disrupted global markets and economic stability. While details of the specific tariff reductions remain to be fully disclosed, the 90-day period offers a window of opportunity for both countries to negotiate further and address underlying trade imbalances. The positive tone expressed by Secretary Bessent suggests a willingness to find common ground and work towards a mutually beneficial outcome.