United States and China agree to temporarily suspend or cut most tariffs for 90 days

It’s been announced that the U.S. and China will momentarily halt imposing tariffs on most goods traded between them, a move that’s received widespread appreciation.

Financial heads from the globe’s top two economic powers reached a consensus to reduce mutually imposed tariffs by approximately 115%, which equates to a 30% decrease in tariffs on Chinese products.

U.S. Trade Representative Jamieson Greer emphasizes the importance of the temporary halt on tariffs for 90 days, noting that China stands alone in responding with retaliation, while other nations opted for negotiations instead.

— Bloomberg TV (@BloombergTV) May 12, 2025

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2025-05-12 12:03