US-China Trade War: Tariffs Cut Deal Revealed!
The United States and China have reached a significant agreement to reduce reciprocal tariffs as part of efforts to ease their ongoing trade war. In talks held in Geneva, US Treasury Secretary Scott Bessent announced that both countries agreed to suspend certain tariffs for 90 days, aiming to lower existing tariffs by 115%. China will set tariffs on US goods at 10% while halting additional tariffs for now. This deal is crucial as the two largest economies had imposed steep tariffs on each other, which affected global markets. Interestingly, this trade tension has led to India benefiting as US buyers are increasingly turning to Indian suppliers.
