President Donald Trump announced a major breakthrough in U.S.-China trade talks after negotiations in Geneva led to a 90-day tariff reduction deal.
China agreed to open its market more to American businesses and reduce tariffs imposed after April 2nd to 10%, while maintaining some existing tariffs.
The agreement, described as historic, aims to ease trade tensions and reset economic relations between the world’s two largest economies. China will suspend retaliatory tariffs and non-tariff measures, while the U.S. will lift some April tariffs but retain those tied to national security and the fentanyl crisis.
Both sides will adopt the changes on May 14 and continue negotiations on structural issues. Talks may alternate between countries or take place in a third country, with a goal of a long-term deal expanding American export access.
