US and China agree to slash tariffs by 115%
The US and China on Monday agreed to pause tariffs for 90 days, as the world's top two economies continue discussions about economic and trade relations.
US Treasury Secretary Scott Bessent claimed the move would see tariffs slashed by 115 per cent.
The 90-day pause will allow the superpowers to hammer out further economic and trade details.
The announcement follows US's productive talks with Chinese officials in Geneva on Sunday.
Updated: May 12, 2025, 7:52 AM
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