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US and China Agree to Slash Tariffs by 115% for 90 Days

  • The United States and China agreed over the weekend to pause a 34% tariff on imports from each other for 90 days.
  • The agreement resulted from escalating tariffs imposed by both countries after President Trump announced the 34% tariff on April 2, raising combined levies to 145%.
  • During the 90-day pause, both countries will impose a 10% tariff instead of the previous higher rates while retaining certain earlier duties, and they plan to continue discussions on economic and trade matters.
  • Treasury Secretary Scott Bessent announced that the recent trade discussions between the U.S. And China yielded significant advancements, while U.S. Trade Representative Greer described the meetings as highly productive.
  • The tariff pause aims to stabilize trade relations and meet producer and consumer expectations, while both countries plan to implement the terms by May 14 and continue cooperation.
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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.

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focoinformativo.site broke the news in on Sunday, May 11, 2025.
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