Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously — could help restore some confidence.

In a surprising turn of events, the United States and China have agreed to significantly reduce tariffs following a pivotal meeting in Geneva. This agreement, announced on a Monday, has exceeded Wall Street's expectations and initiated a 90-day 'cooling-off' period for further negotiations.

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.

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,

In Geneva, the US and China agreed to a 90-day mutual tariff withdrawal, with President Trump hailing the talks as a 'total reset' in relations. Both nations recognize the value of continued dialogue to resolve trade issues,

President Donald Trump's announcement that the U.S. and China will temporarily lower tariffs while they negotiate a new trade deal that will open up access China to U.S. businesses.

May. 12, 2025 at 11:32 a.m. ET