US and China De-escalate Trade War with 90-Day Tariff Truce

US and China Agree to 90-Day Tariff Truce Geneva, Switzerland – In a significant development in the ongoing trade war between the world's two largest economies, the United States and China announced a 90-day pause on most tariffs. This temporary reprieve follows a weekend of high-stakes negotiations in Geneva, where officials from both countries engaged in face-to-face talks for the first time since the tariffs began escalating in April. The agreement includes a reduction of US tariffs on Chinese imports to 30%, down from a steep 145%, and a similar reduction in Chinese tariffs on US goods to 10% from 125%. "Neither side wants an embargo," stated US Treasury Secretary Scott Bessent during a press conference following the agreement. "We do want trade, we want more balanced trade, and I think that both sides are committed to achieving that." The statement underscores the shared desire for a resolution to the trade conflict and a willingness to explore avenues for more balanced economic relations. The 90-day pause offers a window of opportunity for further negotiations and a potential path towards a more sustainable trade relationship. The agreement signals a potential de-escalation of tensions and a cautious optimism for a more stable global economic outlook.