US and China Agree to Slash Tariffs Temporarily After Trade Talks

New York Post

The United States and China agreed Monday to a 90-day truce in their raging trade war — with each agreeing for now to slash reciprocal tariffs by over 100 percentage points, bringing China’s rate down to just 10%.

Under the agreement, the US will drop its 145% tariff rate on Chinese goods to 30%, while China will lower its rate from 125% down to just 10%, officials said.

Stock markets rose sharply following the news as the world’s two largest economies stepped back from a clash that had upended the global economy.

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