The United States and China have agreed to a 90-day pause in their escalating trade war, slashing tariffs on both sides in what President Donald Trump called “a total reset with China” this morning at the White House, according to The Guardian.
Following two days of high-level talks, US tariffs on Chinese goods will drop from a peak of 145% to 30%, while China’s retaliatory duties will fall from 125% to 10% by Wednesday, or “maybe at the end of the week,” Trump added.
The breakthrough comes ahead of a conversation between Trump and Chinese President Xi Jinping.
The talks, led by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, produced a joint statement confirming the dialogue.
The Guardian reported that Bessent spoke on the progress made, telling reporters, “Neither side wants a decoupling,” and suggesting the truce could be extended “as long as there is good faith effort, engagement, and constructive dialogue.”
