US-China Agree to Slash Tariffs Amid Trade War De-escalation:
The United States and China have agreed to slash reciprocal tariffs by 115% as part of a 90-day truce in their prolonged trade war. The deal, finalized after high-level talks in Geneva between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, marks a major step to ease tensions between the world’s two largest economies.This agreement comes after years of escalating trade tensions between the US and China, which had led to hundreds of billions of dollars in tariffs, supply chain disruptions, and global economic uncertainty. The 115% reduction in reciprocal tariffs signals a shift toward cooperation and economic diplomacy.
