The United States and China have agreed to temporarily roll back most of the tariffs in their ongoing trade war following two days of negotiations in Geneva, temporarily easing tensions that have disrupted global markets and supply chains.
The U.S. will reduce tariffs on Chinese imports from 145% to 30%, while China will lower its tariffs on U.S. goods from 125% to 10%. The agreement, effective for 90 days, represents a 115 percentage-point rollback on both sides. However, U.S. tariffs related to fentanyl, a key concern for the U.S. administration, will remain in place.
The reduction is seen as a positive development for both economies, which have suffered from disrupted trade worth over $600 billion. However, experts caution that the 90-day suspension might not lead to a permanent resolution.
