In a key step toward easing trade tensions, the United States and China have agreed to a 90-day rollback of tariffs starting May 14. The US will reduce tariffs on Chinese goods from 145% to 30%, while China will cut tariffs on US imports from 125% to 10%.
US Treasury Secretary Scott Bessent, who announced the deal, said both countries are committed to continued dialogue and do not intend to decouple economically. The two sides also agreed to set up a formal mechanism for ongoing trade talks, with meetings to alternate between the US, China, or a third country.
This marks the first high-level face-to-face meeting between the two nations since President Donald Trump took office and initiated a wave of tariff increases under his “America First” policy.
