US and China agree to drastically roll back tariffs
![]() 2714 Monday, 12 May, 2025, 13:51 The United States and China agreed Monday to drastically roll back tariffs on each other’s goods for an initial 90-day period, in a surprise breakthrough that has de-escalated a punishing trade war and buoyed global markets. The 90-day pause will come into effect from Wednesday, with the US reducing tariffs on China to 30%, down from 145%. China will reduce duties on US goods to 10%, down from 125% |
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