US, China Agree To 90-Day Pause On Sky-High Tariffs

UNITED STATES – The U.S. and China have agreed to roll back most of their tariffs and hit pause on their trade war for now.

Both sides are slashing tariffs by over 100 percentage points and committing to 90 days of talks.

U.S. Trade Representative, Jamieson Greer, says it’s a big step to avoid what he called an “economic embargo.”

Markets reacted fast as stocks and oil prices jumped, and the U.S. Dollar strengthened.

However, experts warns this is just a truce and not a full resolution.