US and China reach deal to slash tariffs, officials say

reuters

The United States and China have struck a 90‑day truce in their trade dispute, agreeing to roll back reciprocal tariffs by an unprecedented 115 percent, U.S. Treasury Secretary Scott Bessent announced on Monday after talks in Geneva.

On Monday, Washington and Beijing announced an accord to sharply reduce their respective tariffs, a step toward winding down a trade war that has unsettled the global economy and rattled financial markets.

Speaking to reporters in Geneva after negotiations with Chinese officials, U.S. Treasury Secretary Scott Bessent said both sides had agreed to a 90‑day freeze on new trade actions and to cut existing reciprocal tariffs by 115 percent.

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