US and China agree to slash tariffs for 90 days
BBC NewsMonday, May 12, 2025 at 7:59:28 AM
The US and China have agreed to reduce reciprocal tariffs by 115% for a 90-day period, as announced by US Treasury Secretary Scott Bessent.
What This Means: This temporary tariff reduction signals a potential easing of trade tensions between the two economic superpowers, which could benefit global markets and reduce costs for businesses and consumers in the short term. However, the long-term impact depends on whether this leads to a more permanent trade agreement.
— Curated via WP Now’s AI editorial system
