US and China ease trade tensions with tariff rollback, 90-day truce

Quick Summary:

GENEVA—US and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

China’s Commerce Ministry called the agreement an important step for the resolution of the two countries’ differences and said it lays the foundation for further cooperation.“This initiative aligns with the expectations of producers and consumers in both countries and serves the interests of both nations as well as the common interests of the world,” a ministry statement said.

Trump last month raised US tariffs on China to a combined 145% and China retaliated by hitting American imports with a 125% levy.

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Author / Journalist: Jamey Keaten, David Mchugh, Elaine Kurtenbach & Ken Moritsugu | The Associated Press

Category: BusinessStartups

Markets: PhilippinesChinaFranceGermanyHong KongJapanSwitzerlandUnited States

Topics: 90-day Tariff Days Global Goods Chinese Bessent China Trade Tariffs Greer

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 13:29:14 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 763 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 28613719

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