US and China slash tariffs

The pause aims to provide time for further trade negotiations.

The United States and China have mutually agreed to a 90 day reduction on tariffs implemented in April, marking a significant attempt to de-escalate the trade war between the world’s two largest economies.

The deal was hashed out by US and Chinese officials in Geneva over the weekend, and will see the US reducing duties on Chinese imports from 145 percent to 30 percent, and China lowering tariffs on US goods to 10 percent, down from 125 percent.