US and China Reach Temporary Tariff Truce

US and China Agree to 90-Day Tariff Truce Geneva, Switzerland – In a significant development in the ongoing trade dispute between the United States and China, both nations have agreed to a temporary easing of tariffs. The agreement, announced by U.S. Treasury Secretary Scott Bessent, involves a 90-day suspension of most tariffs imposed since early April. Both sides will reduce their reciprocal tariffs by 115 percentage points during this period. "We have reached an agreement on a 90-day pause," Secretary Bessent told reporters in Geneva, where he met with Chinese officials. He described the negotiations as "very robust" and emphasized that both sides showed "great respect." This temporary agreement provides breathing room for further negotiations aimed at achieving a more balanced trade relationship between the two economic giants. The 90-day period will allow both countries to explore solutions to their trade disagreements, paving the way for a potentially more stable and cooperative economic future. The initial reduction in tariffs signifies a willingness to compromise and signals a possible turning point in the trade war.