US and China Strike 90-Day Trade Deal: Tariffs Slashed

US and China Reach Breakthrough Trade Deal, Slashing Tariffs for 90 Days Geneva, Switzerland – In a surprising turn of events, the United States and China have reached a significant trade agreement, dramatically reducing tariffs on billions of dollars worth of goods for the next 90 days. This follows weeks of tense negotiations marked by strong rhetoric from both sides. The deal involves the US lowering its steep 145% tariff on Chinese imports to 30%, a substantial reduction. Simultaneously, China has agreed to decrease its tariffs on American products from 125% to a more moderate 10%. "This is a major breakthrough," stated a US trade official during a press conference in Geneva. "It shows that even amidst significant disagreements, both nations can find common ground and work towards mutually beneficial solutions." The agreement comes as a surprise, given the previously defiant stance of the US president regarding tariffs. However, recent statements suggest a shift in approach, potentially influenced by the economic pressures stemming from the ongoing trade dispute. The deal marks a significant step towards de-escalation and could have far-reaching positive impacts on global trade and economic stability. While the 90-day timeframe is relatively short, it offers a crucial window of opportunity for further negotiations and the potential for a more lasting and comprehensive trade agreement. The consensus from both delegations this weekend is that neither side wants a decoupling.