US EditionUS and China Agree to Slash Tariffs by 115% for 90 Days
- On May 12, 2025, U.S. And Chinese officials in Geneva agreed to reduce their tariffs significantly for 90 days to ease trade tensions.
- This deal followed last month's escalation when the U.S. Raised tariffs on Chinese goods to 145% and China retaliated with a 125% levy on U.S. Imports.
- The agreement cancels 91% of tariffs and suspends an additional 24% for 90 days, lowering U.S. Tariffs on China to 30% and Chinese tariffs on U.S. Goods to 10%.
- Following the announcement, global markets surged with the S&P 500 futures rising 2.6%, Dow Jones up 2%, and Hong Kong's Hang Seng index gaining nearly 3%.
- The tariff reduction creates a truce to restart talks but uncertainty remains over whether a lasting resolution can be reached within the suspension period.
652 Articles
652 Articles
Trump caves on his Chinese tariffs, but it’s too little too late
The Trump administration announced on Monday that for the next 90 days, Dear Leader is lowering the insane tariff he placed on all Chinese imports from 145% to 30%—enough to appease the stock market but not enough to stave off a spike in inflation and...
The Center Square
U.S., China agree to cut tariffs after trade meeting
(The Center Square) – The U.S. and China will cut tariffs on imports from each other as the world's two largest economies look to reach a broader deal on trade after months of tensions.
US and China take a step back from the very high tariffs and agree to a 90-day pause
U.S. and Chinese officials said Monday that they reached an agreement to cut most of their recent tariffs and declare a 90-day truce in their trade war to continue talks on resolving their trade disputes. Stock markets rose sharply as the world’s two major economic powers stepped back in a shock that has destabilized the global economy.
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