US and China Reach Surprise Tariff Truce: 90-Day Pause Announced

US and China Agree to 90-Day Tariff Truce Geneva, Switzerland – In a surprise move with significant global implications, the United States and China have agreed to a 90-day pause on their escalating reciprocal tariffs. The announcement came from US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer following talks in Geneva. Both officials emphasized the commitment to a substantial reduction in tariffs. "We have reached an agreement on a 90-day pause," stated Secretary Bessent, "and substantially moved down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%." Trade Representative Greer added, "We come to agreement that our reciprocal tariff rate will go down to 10% on the United States side. The Chinese on their side also go down 115% to 10%. And they remove the countermeasures that they have in place." This temporary truce marks a significant de-escalation in trade tensions between the two economic giants. The 90-day period will allow for further negotiations, offering a glimmer of hope for a more stable and predictable global trade environment.