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China hails 'substantial progress' in trade talks with US
The Freeman
|May 13, 2025
China hailed on Monday "substantial progress" with the United States after talks in Geneva on dialing down their trade war yielded dramatic cuts to import tariffs.
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US President Donald Trump had imposed duties of 145 percent on imports from China last month as part of a global tariff blitz, while Beijing hit Washington with retaliatory duties of 125 percent.
As well as the blanket levies, China has also been hit with sector-specific tariffs on steel, aluminium and car imports.
Trump has frozen until July "reciprocal" tariffs on a slew of other countries but kept them in place for China.
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