Following intensive talks in Geneva, US Treasury Secretary Scott Bessent announced that Washington and Beijing have agreed to suspend mutual tariffs for 90 days. The US will lower tariffs on Chinese goods from 145% to 30%, while China will reduce duties on US imports from 125% to 10%. A new negotiation mechanism led by top officials from both countries will continue discussions, with future meetings to be held alternately in China, the US, or a third country.
TR