GENEVA (AN) — Despite little hope of a breakthrough, Chinese Vice Premier He Lipeng and U.S. Treasury Secretary Scott Bessent struck a deal to suspend the trade war between the world's two largest economies after two long days of negotiations.
The U.S. and China announced on Monday they agreed to pause most tariffs on each other's goods for 90 days to allow for more talks. The U.S. tariff on Chinese imports will fall to 30%, down from 145%, while China's retaliatory tariff on U.S. goods will fall to 10%, down from 125%.
