US and China Agree to Pause Trade War

The United States and China have reached an important agreement in their ongoing trade dispute. Both countries have decided to significantly reduce their tariffs on each other's goods and pause their trade war for 90 days.

U.S. officials announced that they will lower their tariff rate on Chinese goods from 145% to 30%. Similarly, China agreed to decrease its tariffs on U.S. goods to 10%. This mutual reduction aims to ease tensions and promote more balanced trade between the two largest economies in the world.

During the 90-day truce, both sides will continue discussions to resolve their remaining trade issues. This development has been welcomed by investors, with stock markets rising sharply in response to the news. The agreement is seen as a positive step towards preventing a complete blockade of trade between the two nations.