US and China End Devastating Trade War in SHOCK 90-Day Truce!

2025-05-12 12:00:14.354

The United States and China reached a 90-day truce in their trade war on Monday. Both countries agreed to significantly reduce tariffs. The US will lower its 145% tariff rate on Chinese goods to 30%, while China will reduce its rate from 125% to 10%. This represents a reduction of over 100 percentage points on each side. The agreement led to a sharp rise in stock markets. US Treasury Secretary Scott Bessent stated that neither side wants a decoupling and that both are committed to more balanced trade. China's Commerce Ministry echoed this sentiment, highlighting the agreement's alignment with the interests of producers and consumers in both countries. The Geneva meetings marked the first face-to-face talks between high-level US and Chinese economic officials since President Trump's return to power and the initiation of his global tariff increases. While the deal reduces tariffs, it doesn't address sector-specific tariffs. The US plans to continue strategic rebalancing in areas like medicine, semiconductors, and steel to address supply chain vulnerabilities.