United States and China pause reciprocal tariffs for 90 days
An agreement between China and the United States, announced on Monday, will pause reciprocal tariffs for 90 days. Beijing will reduce tariffs on US products from 125 % to 10 %, and Washington will do the same on Chinese goods, reducing them from 145 % to 30 %
The governments of China and the United States announced an agreement on Monday to pause the application of reciprocal tariffs for 90 days, following a meeting in Geneva over the weekend.
Under this agreement, Beijing will reduce tariffs on US products from 125 % to 10 %. For its part, Washington will do the same, reducing tariffs on Chinese goods from 145 % to 30 %.
The decision was announced in a joint statement following the first round of negotiations between the two nations, which committed to maintaining ongoing dialogue, including regular and emergency meetings on bilateral trade.
The results of this first meeting between China and the United States were praised by World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala.
M.Pino
Source: infobae
(Reference image source: PortCalls Asia on Unsplash)
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