💨 Abstract

President Trump and China have agreed to temporarily reduce tariffs by 50% for 90 days. Trump eased tariffs from 145% to 30% on Chinese goods, while China reduced its retaliatory tariffs from 125% to 10%. The deal aims to facilitate negotiations and stabilize the global economy. But it means uncertainty and potential economic impact persist, as the new tariff rates are still significantly higher than before Trump's presidency.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖