GENEVA — In the continuing debate on trade between the United States and China, it was announced on May 12 that the two nations have reached a temporary truce in the triple-digit retaliatory tariff fees.
The extra tariffs the U.S. imposed on Chinese imports in April will be cut from 145 percent to 30 percent, and Chinese duties on U.S. goods will fall from 125 percent to 10 percent.
“We have reached an agreement on a 90-day pause and substantially moved down the tariff levels,” U.S. Treasury Secretary Scott Bessent said during a press. . .
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