The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will both meet with their Chinese trade and economic counterparts in Switzerland.

GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.

Switzerland has moved to the front of the queue for a trade deal with the United States, U.S. Treasury Secretary Scott Bessent said on Monday, after the Alpine country hosted surprisingly successful U.

The easing of trade tensions between the United States and China is a step in the right direction and helps reduce European fears of being flooded with Chinese goods redirected from the U.S. market, European Economic Commissioner Valdis Dombrovskis said.

Treasury Secretary Scott Bessent expressed optimism about continuing trade negotiations with Chinese officials after meeting in Geneva, with plans to meet again in the next few weeks to hash out a

Washington will reduce tariffs to 30% for 90 days, while Beijing will lower them to 10%. The suspension will take effect on May 14. After a marathon of negotiations on neutral ground to calm the 2.0 trade war reignited by Donald Trump,

Markets are in a cheery mood after trade talks between the US and China in Switzerland over the weekend yielded what both sides described as encouraging progress. Treasury Secretary Scott Bessent hailed "substantial progress" following "productive" discussions. Details are expected Monday, he said in a statement.