US strikes trade deal with China
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Eurasia Group's Dominic Chiu talks about US and China pulling back from their trade stand-off, and says that investors should stay 'sober' about where bilateral relations are heading – as there are imbalances that could threaten the current calm.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
1don MSN
Negotiations will continue while lower tariff rates are in place for 90 days. But free trade belongs to a bygone era.
U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop the 145% tax Trump imposed last month to 30%. China agreed to lower its tariff rate on U.S. goods to 10% from 125%. Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.
New agreement sees reciprocal US-China tariffs drop from 125% to 10% for 90 days, with final US tariff rate on China lowered to 30%
The United States and China agreed Monday to drastically roll back tariffs on each other’s goods for an initial 90-day period
US and China agree to reduce tariffs, impacting India's trade strategy and pushing for US-India bilateral trade agreement.
The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.
China has full confidence in its ability to manage U.S. trade issues, Vice Foreign Minister Hua Chunying said on Friday, a day before officials from both sides are set to meet in Switzerland to discuss the tariffs they have imposed on each other.