💨 Abstract

The United States and China have agreed to temporarily reduce tariffs by over 100 percentage points to 10% for 90 days, aiming to end a prolonged trade war. This deal came after high-level talks in Geneva, where both sides expressed a desire to avoid a decoupling of their economies. The tariff slashing has eased market fears of a recession and boosted financial markets. The trade tensions had previously led to significant disruptions in global supply chains and economic instability.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖