US and China reach deal to slash trade tariffs
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The US and China have reached a deal to reduce trade tariffs, agreeing to a 90-day pause on measures and cutting tariffs by over 100 percentage points to 10%. This agreement aims to ease tensions from a trade war that has disrupted global trade and financial markets. U.S. Treasury Secretary Scott Bessent emphasized the importance of balanced trade, while the talks marked the first direct engagement between senior officials since President Trump's return to power. The tariff dispute has significantly impacted nearly $600 billion in trade, raising concerns about economic stability.
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Source: Reuters The copyright of this article belongs to the original author/organization.
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