New Delhi: In a major breakthrough and after a mutual understanding reached during the recent US-China economic and trade meeting in Geneva, Beijing has agreed to reduce tariffs on imports from the United States to 10 percent from as high as 125 percent for a period of 90 days.
The US has also agreed to lower tariffs on Chinese products from 145 percent to 30 percent for 90 days.
According to Reuters, the US-China joint statement stated that China agreed to reduce tariffs to ease economic tensions and foster further dialogue with the United States. The lowering of tariffs by both the giants has helped ease tensions between the two countries.
Beijing has also agreed to take necessary administrative measures to “suspend or remove” non-tariff countermeasures were imposed by it on the United States since April 2, 2025.
China to lower tariffs on US products from 125% to 10% for 90 days; US also agress to lower tariffs on Chinese products Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
