There’s been a breakthrough in the U.S.-China tariff dispute. The two countries have announced a temporary, substantial reduction of reciprocal tariffs. The new measure will be in effect for 90 days. Specifically, the U.S. will cut tariffs on Chinese imports from 145% to 30% and China will ease tariffs on U.S. imports from 125% to 10%. The tariff dispute, sparked last month by President Trump, has brought nearly $600 billion in trade between the two countries to a near standstill, disrupting supply chains and causing fears of a recession. The two countries have vowed to continue discussions on economic and trade relations.
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