US, China Agree Temporary 90-Day Tariff Reductions Amid Trade Truce

President Donald Trump's administration has agreed to a temporary truce in the ongoing trade war with China, reducing U.S. tariffs on Chinese goods from 145% to 30% for 90 days, while China will lower its tariffs on American products from 125% to 10%. This rollback marks a significant retreat from Trump's earlier, tougher tariff proposals, including his recent call for an 80% tariff. Prominent voices, including Fox Business reporter Charles Gasparino, have characterized the move as Trump being forced to back down due to market pressures and economic realities, rather than a strategic victory. Critics argue that the deal is more a surrender than a win, highlighting the negative impacts Trump's tariff policies have had on various American sectors and consumers. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer emphasized a shared interest in avoiding economic decoupling, but some analysts remain skeptical about the durability and substance of the agreement. Overall, the truce offers temporary relief to strained global markets but underscores ongoing tensions and uncertainties in U.S.-China trade relations.