After the storm, an interim pause

Trump's flip-flop on America's China tariffs introduces uncertainty in global trade

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The US and China, the world's largest and second-largest economies, have agreed to bring down their tariffs on imports from the other from 145% and 125% to 30% and 10%, respectively. The arrangement, which was reached by the two countries in Geneva on Monday, is for 90 days as of now, a period during which they are expected to arrive at a more detailed arrangement.

The latest détente between these two countries marks yet another turn in the ongoing drama between the US and China, where each side was expected to suffer heavy losses as they indulged in brinksmanship over complete economic decoupling—which is what would have happened had the tariffs stayed in three digits.