US, China Slash Tariffs in 90-Day Trade Truce

The U.S. and China have agreed to a 90-day temporary truce in their trade dispute, with the U.S. lowering tariffs on Chinese imports from 145% to 30% and China reducing tariffs on American goods from 125% to 10%. President Trump said the deal includes commitments from China to open its markets to American businesses and suspend non-tariff trade barriers. The truce has triggered a rally in global stock markets and is expected to temporarily boost trans-Pacific freight rates as companies seek to capitalize on the grace period. Despite this optimism, skepticism remains among U.S. farmers and analysts, who note that previous negotiations have faltered and that the agreement is not yet finalized. The deal still requires further negotiation to become permanent. The temporary tariff reductions aim to restore trade flows and ease economic tensions between the two countries.