US, China agree to slash tariffs in trade war de-escalation

Geneva (AFP) May 12, 2025

The United States and China announced Monday an agreement to drastically reduce tit-for-tat tariffs for 90 days, de-escalating a trade war that has roiled financial markets and raised fears of a global economic downturn. After their first talks since US President Donald Trump launched his trade war, the world's two biggest economies agreed in a joint statement to bring their triple-digit tar