US-China Trade War Truce: A Temporary Relief
The United States and China temporarily reduced reciprocal tariffs in an effort to ease tensions in the ongoing trade war. This agreement, effective for 90 days, cuts U.S. tariffs on Chinese imports to 30% and reduces Chinese duties on U.S. imports to 10%. This development follows a series of international trade meetings.
The United States and China have agreed to a temporary reduction in reciprocal tariffs in a bid to de-escalate the intense trade war between the two global economic giants.
Effective for 90 days, the new measures lower U.S. tariffs on Chinese imports from 145% to 30%, while Chinese duties on U.S. imports will decrease from 125% to 10%.
This agreement follows a series of productive international trade discussions, with similar limited trade accords recently being announced between the U.S. and Britain.
(With inputs from agencies.)
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