US, China agree to reduce tariffs for 90 days

The United States and China have agreed to drastically reduce their tit-for-tat tariffs for a 90-day period, they said in a joint statement after two days to trade talks in Geneva.

"We have reached an agreement on a 90-day pause," US Treasury Secretary Scott Bessent told reporters after the sides issued the statement, adding that "both side will move their tariffs down" 115 percentage points.