The United States and China announced a 90-day agreement Monday to significantly reduce their tit-for-tat tariffs, de-escalating a trade war that has unsettled global markets, Arab News reported.<\/p>\n\n\n\n
Following their first talks since President Donald Trump launched the tariff blitz, both sides agreed to cut triple-digit tariffs to two-digit levels and continue negotiations.<\/p>\n\n\n\n
US Treasury Secretary Scott Bessent described the talks with Chinese officials as \u201cproductive\u201d and \u201crobust.\u201d The US will lower tariffs by 115 percentage points, reducing them to 30 percent, while China will cut its tariffs to 10 percent. Both countries committed to establishing a mechanism for ongoing economic and trade discussions.<\/p>\n\n\n\n
China praised the \u201csubstantial progress,\u201d urging Washington to avoid unilateral tariff hikes. The announcement boosted the dollar and global stock markets. The World Trade Organization\u2019s chief Ngozi Okonjo-Iweala called the talks a \u201csignificant step forward.\u201d<\/p>\n\n\n\n
The Geneva meeting followed Trump\u2019s recent trade deal with Britain, signaling a willingness to negotiate tariff relief while maintaining some levies as baseline rates for other countries. White House officials stressed that tariff reductions would require reciprocal Chinese concessions.<\/p>\n","protected":false},"excerpt":{"rendered":"
The United States and China announced a 90-day agreement Monday to significantly reduce their tit-for-tat tariffs, de-escalating a trade war that has unsettled global markets, Arab News reported. Following their first talks since President Donald Trump launched the tariff blitz, both sides agreed to cut triple-digit tariffs to two-digit levels and continue negotiations. US Treasury …<\/p>\n","protected":false},"author":33,"featured_media":124662,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_108372464460192_245495985553329":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[6123,5018],"tags":[14322],"class_list":["post-124651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china","category-united-states","tag-us-china-trade-war"],"yoast_head":"\n