US-China Trade Truce Announced
The US and China agree to a 90-day pause on new trade sanctions and cut tariffs by 115% to ease global economic tensions.
Tariff Reductions
- US to lower tariffs from 145% to 30% on Chinese imports (including fentanyl-related items);
- China to Slash Tariffs on U.S. Imports from 125% to Just 10% by May 14 in Major Trade Shift.
Goal: Stabilize Global Markets
US Treasury Secretary says this is a mutual commitment to restore international trade stability and reduce uncertainty.
Background: Ongoing Trade War
Since 2018, the US-China trade war has impacted over $600 billion in trade, triggered price hikes, and strained global supply chains.
Market Reaction
Wall Street and global markets rise on hopes of avoiding a global recession.
Future Uncertain
Experts say this is a temporary truce, and a long-term agreement may take more time.
