"The two sides had set up consultations to continue discussing their trade issues."
"The consensus from both delegations this weekend is neither side wants a decoupling."
"What had occurred with these very high tariffs was the equivalent of an embargo. And neither side wants that."
"We want more balanced trade, and I think that both sides are committed to achieving that."
In a significant step toward resolving their ongoing trade tensions, U.S. and Chinese officials announced a cooperation agreement to reduce tariffs. The U.S. dropped its tariff rate on Chinese imports from 145% to 30%, while China reciprocated by lowering its own tariffs on U.S. goods to 10%. This decision sparked optimism in global stock markets, emphasizing a desire to avoid a trade war escalation. Both nations aim for balanced trade and established ongoing consultations to address further disputes, underscoring a commitment to maintaining trade relations despite prior tensions.
Read at Boston.com
Unable to calculate read time
Collection
[
|
...
]