President Donald Trump on Monday hailed the breakthrough in US-China trade talks, stating that China will “open itself up to American business” following a significant agreement to roll back tariffs. Speaking from the White House, Trump described the development as “maybe the most important thing” to emerge from the high-level discussions in Geneva over the weekend.
The United States and China announced earlier on Monday that they had agreed to temporarily suspend most tariffs and trade barriers for 90 days, starting Wednesday. The decision marks a crucial de-escalation in the prolonged trade war that has disrupted global markets and strained bilateral relations.
Under the deal:
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The U.S. will cut tariffs on Chinese goods to 30% from 145%.
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China will lower its retaliatory tariffs on U.S. imports to 10% from 125%.
However, the U.S. will retain a 20% tariff on goods tied to China’s alleged role in the fentanyl crisis and will continue duties on specific Chinese products, such as steel and aluminum, that were imposed prior to April.
In addition, China agreed to suspend or remove non-tariff countermeasures placed on U.S. goods since April 2, signaling a broader effort to normalize trade flows between the two economic giants.
The agreement effectively halts what had become a near-embargo on trade between the U.S. and one of its largest suppliers, and could provide relief to American industries and consumers that have borne the brunt of higher import costs.
While Trump offered limited specifics on China’s future market openings, his optimism suggests renewed momentum in U.S.-China relations—at least for the 90-day reprieve. The announcement comes just days before the release of critical U.S. inflation data, which analysts say will further determine the impact of tariffs on the domestic economy.
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