US, China agree to slash trade tariffs for 90 days

Updated 5/12/2025 10:51:00 AM
US, China agree to slash trade tariffs for 90 days

Arab Finance: The US and China reached an agreement for a 90-day pause on trade tariffs, Reuters reported.

Reciprocal duties are expected to drop sharply, which will boost investors' confidence that a full-scale trade war may have been averted.

Speaking after talks with Chinese officials in Geneva, the US Treasury Secretary Scott Bessent told reporters the two sides had reached the deal that reciprocal rates would drop by 115 percentage points.

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