U.S. Treasury Secretary Scott Bessent announced that an agreement has been reached between China and the United States to reduce tariffs for 90 days. According to him, retaliatory tariffs imposed on imports from China will be lowered to 10%, similar to tariffs on other countries. In return, China will reduce tariffs on imports from the U.S. to 10% from 125%. This comes after U.S. President Donald Trump announced yesterday a trade agreement with China, following two days of meetings between representatives from both countries in Geneva.
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