China, tariffs
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The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.
Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.
The responsibility of tackling the fentanyl issue in the United States lies within the U.S. itself, China's foreign ministry said on Tuesday, rejecting the punitive tariffs Washington imposed on Beijing for not stemming the inflow.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.
China has removed a ban on airlines taking delivery of Boeing planes after the United States and China agreed a temporary cut in steep tariffs, Bloomberg News reported on Tuesday, citing sources familiar with the matter.