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US, China agree to reduce tariffs for 90 days: Joint statement

World News

12-05-2025 | 03:35

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US, China agree to reduce tariffs for 90 days: Joint statement

The United States and China have agreed to drastically reduce their tit-for-tat tariffs for a 90-day period, they said in a joint statement after two days to trade talks in Geneva.

"We have reached an agreement on a 90-day pause," U.S. Treasury Secretary Scott Bessent told reporters after the sides issued the statement, adding that "both side will move their tariffs down" 115 percentage points.

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