After two days of negotiations in Switzerland, the US and China agreed to sharply reduce tariffs for 90 days, easing trade tensions that had disrupted global markets. The US will cut tariffs on Chinese goods from 145% to 30%, while China will lower most tariffs on US goods to 10%. Both countries will also suspend additional non-tariff measures, with changes effective May 14, 2025. The move sparked a surge in global markets and improved investor sentiment. However, experts warn that significant differences remain, and if no broader deal is reached within 90 days, tariffs could return to previous high levels. Ongoing talks are planned to seek a comprehensive agreement
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