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The United States and China have reached a historic agreement on a 90-day suspension of mutual trade sanctions, the first step towards easing tensions in the worst trade conflict of the last decade. This was reported by Reuters and the Financial Times.
After the talks in Geneva, US Treasury Secretary Scott Bessent said that both countries were significantly reducing their customs rates:
▪️ USA – from 145% to 30% on Chinese goods,
▪️ China – from 125% to 10% on US imports.
“No one wants an economic gap. We have agreed to a constructive dialogue,” Bessent stressed.
In addition, the parties agreed to establish a permanent mechanism to continue negotiations. A separate topic was the fight against fentanyl trafficking, which, according to the US, is mainly supplied to the market from China.
Financial markets reacted positively, with the dollar and yuan rising against the euro, pound sterling and yen. Analysts called the agreement “unexpectedly deep” and the tariff cuts a manageable compromise that could mitigate the risks of a global recession.
