US, China agree to temporary tariff cuts after Geneva talks

Published : Monday, 12 May, 2025 at 3:38 PM Count : 320

Observer Online Report

The United States and China have agreed to temporarily reduce their retaliatory tariffs, with US duties lowered to 30 percent and Chinese tariffs cut to 10 percent, US Trade Representative Jamieson Greer announced on Monday.

Following a round of trade negotiations in Geneva over the weekend, Treasury Secretary Scott Bessent and Greer told reporters that both countries would roll back their reciprocal tariffs by a combined 115 percentage points for a 90-day period, aiming to ease trade tensions and foster further dialogue.

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