US, China to slash reciprocal tariffs by 115%, pause trade war for 90 days

US says neither side wants a trade decoupling or embargo

- 

GENEVA: The United States and China have agreed to significantly reduce tariffs and halt their ongoing trade dispute for 90 days, officials from both countries confirmed on Monday. The move marks a pause in months of escalating tensions that have strained global markets and threatened bilateral trade worth over $660 billion annually.

Following two days of talks in Geneva, US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent announced that Washington would lower its tariff rate on Chinese goods from 145 per cent to 30 per cent. China, in return, will cut its rate on American imports to 10 per cent, matching the 115 percentage point reduction.