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US and China Agree To Temporarily Slash Tariffs
The United States and China said Monday they reached an agreement to temporarily reduce the tariffs [non-paywalled source] they have imposed on each other in an attempt to defuse the trade war threatening the world's two largest economies. From a report: In a joint statement, the countries said they...
The United States and China said Monday they reached an agreement to temporarily reduce the tariffs[ non-paywalled source] they have imposed on each other in an attempt to defuse the trade war threatening the world's two largest economies. "We concluded that we have a shared interest," said Treasury Secretary Scott Bessent at a news conference in Geneva where U.S. and Chinese officials met over the weekend. Many American businesses had suspended orders, holding out hope that the two countries could strike a deal to bring down the tariff rates while raising the spectre of price increases.
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