BBCUS and China have agreed a temporary cut to the tariffs they impose on each other’s imports.
US Treasury Secretary Scott Bessent said both countries would lower their reciprocal tariffs by 115% for 90 days.
The announcement came after both China and the US had held trade talks in Switzerland over the weekend, which Bessent had previously described as “productive and constructive”.
It was the first meeting between the two countries since US President Donald Trump had levied steep tariffs against China on its goods entering America in January.
Trump had imposed a 145% tariff on Chinese imports, while Beijing responded with a 125% levy on some US goods.
The huge tariffs caused turmoil in the financial markets and sparked fears of a global recession.
However, the US tariffs on Chinese imports will now be cut to 30% for 90 days, while Chinese tariffs on US imports will be cut to 10% for the same period of time.
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Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
