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U.S. & China Agree To 90-Day Pause In Trade War, Lower Tariff Levels For The Period

U.S. & China Agree To 90-Day Pause In Trade War, Lower Tariff Levels For The Period

Business Today
Business Today
  • New Delhi,
  • May 12, 2025,
  • Updated May 12, 2025, 2:57 PM IST

The US and China have agreed to suspend most of the tariffs on goods imported from each other for 90 days effective Wednesday, according to a joint statement released by the White House Monday. The US reduced its reciprocal tariff on Chinese goods to 10% from 125%. With the 20% tariffs announced in February and March against Chinese goods remaining in place, the total tariff against Chinese goods will now be 30%. At the same time, China agreed to cut tariffs on US goods to 10% from 125%. In a press briefing after trade negotiations in Geneva, US Treasury Secretary Scott Bessent said neither side was looking for a decoupling but wanted to ensure more balanced trade.

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