US and China Agree to Slash Tariffs in Geneva Trade Deal

China and the United States have made a breakthrough in their trade relations. Following a meeting in Geneva, both countries agreed to significantly reduce tariffs. Chinese spokesperson Lin Jian announced that the US would eliminate 91% of tariffs and suspend another 24%, leading to a reciprocal reduction by China. "Both sides reached multiple positive common understandings," stated Jian, highlighting the significance of the agreement. This development marks a positive step towards easing trade tensions between the two economic giants. The remaining 10% of tariffs will be retained by each country. This agreement signals a potential de-escalation of trade disputes and could have positive implications for global economic stability.