U.S. and China Agree to 90-Day Tariff Reduction After Geneva Talks

Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met Chinese Vice Premier He Lifeng in Geneva for two days of negotiations that produced a 90-day mutual tariff reduction. The U.S. lowered tariffs on Chinese imports from 145% to 30%, while China reduced its rates on U.S. goods from 125% to 10%. Both sides described the talks as a step back from what Bessent called an effective trade embargo, though structural issues remained unresolved.