China and the United States have agreed to drastically reduce tariffs on both sides after a weekend of trade talks in Switzerland.
US Treasury Secretary Scott Bessent says the discussions were robust and that both sides showed great respect, while representing their own national interests. The two countries have now agreed to suspend most tariffs for 90 days. China says it will retain 10% tariffs on US goods, while the US will continue with 30% tariffs. Beijing and Washington had been locked in a trade war that has threatened to up-end the global economy.
DW’s Melissa Chan reports from Taipei, and Steven Beardsley provides analyses in the studio.
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