US and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day pause to keep talking to resolve their trade disputes. Stock markets rose sharply as the globe's two major economic powers took a step back from a clash that has unsettled the global economy.
US Trade Representative Jamieson Greer said the US agreed to drop its 145 per cent tariff rate on Chinese goods by 115 percentage points to 30 per cent, while China agreed to lower its rate on US goods by the same amount to 10 per cent. Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances
