The United States and China announced on Monday that they have reached an agreement to significantly reduce reciprocal tariffs, marking a major step toward ending a prolonged trade dispute that has unsettled global markets and disrupted economic stability.

Following discussions in Geneva, US Treasury Secretary Scott Bessent confirmed that both sides had agreed to a 90-day suspension of trade measures.

As part of the deal, reciprocal tariffs will be reduced by 115%, offering relief to businesses affected by the ongoing economic tensions.

The breakthrough comes as Washington and Beijing seek to restore trade relations, signaling a potential shift toward renewed economic cooperation.

Source: Agencies