US and China agree to cut tariffs in 90-day trade truce

According to media sources, the United States and China have agreed to temporarily reduce tariffs on each other’s goods, signaling a possible thaw in trade tensions between the world’s two largest economies. The move, announced in a joint statement from Geneva on Monday, grants both sides a three-month window to work toward a broader resolution.

Effective May 14, the US will lower its combined tariffs on most Chinese imports from 145% to 30%, including duties tied to fentanyl-linked products. In return, China will cut its tariffs on American goods from 125% to 10%, officials confirmed during a press briefing.

The temporary easing of tariffs marks a key moment in efforts to de-escalate a prolonged trade war that has sharply curtailed trans-Pacific trade. Earlier negotiations had yielded “substantial progress,” according to both sides.

While the White House initially described the move as a “trade deal,” officials acknowledged that key issues remain unresolved, including the scale of future tariff reductions and how to address the US trade deficit with China. A similar truce in 2018 collapsed within months, raising questions about whether this latest step will lead to a lasting agreement.