
US and China Agree to Slash Tariffs Temporarily After Trade Talks
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.
Read More at the New York Post