The United States and China announced a joint agreement to suspend the majority of their trade tariffs, marking a potential turning point in years of economic tensions between the world's two largest economies.
According to a joint statement released by the White House and China's State Council, both nations have committed to reducing their additional tariffs from current levels to just 10% for an initial 90-day period, effective May 14, 2025. This represents a suspension of 24 percentage points in tariffs for both countries, dramatically easing the trade barriers that have hindered bilateral commerce.