Officials from the United States and China announced on May 12 that they reached a 90-day agreement aimed at relieving trade tensions between the two countries, after meeting in Geneva over the weekend.
Specifically, both Washington and Beijing have agreed to significantly reduce the value of tariffs imposed on imports from each country.
The move will drop, but not eliminate, the tariffs imposed on imports from each country.
Generally, the deal only applies to measures taken by both the United States and China since April 2.
New Tariffs Reduced
Starting on May 14, both countries will significantly reduce certain components of their tariffs against one another, according to a joint statement attributed to both the United States and the Chinese communist regime published by the White House….