U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs for 90 days and keep talking to resolve their trade disputes.
U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.
They said the two sides had set up consultations to continue discussing their trade issues.
