US and China reach deal to slash tariffs, officials say

The United States and China agree to slash reciprocal tariffs

The United States and China announced on Monday that they have reached a deal to reduce reciprocal tariffs temporarily in an effort to end the trade war between the two countries. This agreement comes after talks between US Treasury Secretary Scott Bessent and Chinese officials in Geneva.

According to Bessent, both sides have agreed to a 90-day pause on measures, with tariffs decreasing by over 100 percentage points to 10%. He emphasized that both countries have a vested interest in balanced trade and that the US will continue to work towards achieving this goal.

US Trade Representative Jamieson Greer, who was also present at the talks, highlighted the progress made in narrowing differences between the two nations during the weekend discussions.

The meetings in Geneva marked the first in-person interactions between senior US and Chinese economic officials since President Donald Trump’s return to power and the initiation of a global tariff campaign. Trump had imposed significant tariffs on Chinese imports during his tenure, and these were further increased by the Biden administration.

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