US-China Tariff Dispute Takes a Positive Turn: Joint Statement Aims for Reduction
The tariff dispute ignited by US President Donald Trump has taken another turn. After negotiations over the weekend in Geneva, the USA and China issued a joint statement announcing that the two countries would reduce their mutual tariffs, which had only been imposed in April for an initial period of 90 days. Tariffs on goods imported from China to the USA would decrease from 145 to 30, while tariffs on imports from the USA to China would drop from 125 to 10. They also aim to establish mechanisms for further discussions on economic and trade issues. Additional meetings are planned to take place in the USA, China, or a third country.
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