💨 Abstract

The United States and China have agreed to temporarily reduce reciprocal tariffs, cutting U.S. tariffs on Chinese imports to 30% from 145% and Chinese tariffs on U.S. imports to 10% from 125%. This 90-day agreement aims to alleviate a trade war that has endangered economic stability. Both nations expressed a desire to avoid decoupling and retain balanced trade. Financial markets reacted positively, with stock prices and the dollar rising.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖