U.S., China freeze Tarrifs Temporarily

Following intense negotiations in Geneva, the U.S. and China have agreed to a 90-day suspension of punitive tariffs in an effort to ease escalating trade tensions. As part of the agreement, the U.S. will reduce tariffs on Chinese goods from 145% to 30%, while China will lower its tariffs on American imports from 125% to 10%. Both nations also pledged to initiate a formal dialogue moving forward.