US, China announce reduced tariffs for 90 days after trade talks

The U.S. and China have agreed to reduce tariffs on each other for an initial 90-day period following trade talks in Geneva. The U.S. will cut its tariffs from 145% to 30%, while China will lower its tariffs on American products from 125% to 10%.

Both sides aim to foster a sustainable economic relationship and have committed to continuing discussions led by key officials from each country. This agreement comes amid ongoing tensions in their trade relations, with recent retaliatory tariffs escalating tensions significantly.

"China was the only country that chose to implement retaliation against the United States," noted U.S. Trade Representative Jamieson Greer.