The U.S. and China on Monday agreed to suspend most tariffs on each other’s goods in a move that shows a thawing of trade tensions.The U.S. and China on Monday agreed to suspend most tariffs on each other’s goods in a move that shows a thawing of trade tensions.
The U.S. and China on Monday agreed to suspend most tariffs on each other’s goods in a move that shows a thawing of trade tensions between the world’s two largest economies.
“We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process,” U.S. Treasury Secretary Scott Bessent said in a news conference.
“We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%,” Bessent said.
This is a breaking news story and will be updated shortly.
