The U.S. and China agreed to a 90-day pause on most tariffs, easing tensions in their ongoing trade war and boosting global markets.
The U.S. will reduce tariffs on Chinese goods from 145% to 30%, while China will cut its tariffs on U.S. imports from 125% to 10%.
The agreement followed constructive talks in Geneva and includes plans to establish a mechanism for continued negotiations.
While the truce offers economic relief, both sides acknowledge that significant issues remain unresolved and caution that the conflict could reignite.
