US and China agree to slash tariffs for 90 days
Summary
The United States and China have agreed to temporarily reduce the tariffs they charge on each other's imports by 115% for 90 days. This decision followed trade talks between the two countries in Switzerland.Key Facts
- The US and China will lower tariffs on each other's goods by 115%.
- This tariff cut is temporary and will last for 90 days.
- The announcement followed trade discussions held in Switzerland.
- This was the first meeting since the US imposed high tariffs on Chinese goods in January.
- US Treasury Secretary Scott Bessent called the talks "productive and constructive."
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