US, China to roll back most tariffs, says trade representative Greer

Geneva: US and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs for 90 days and keep talking to resolve their trade disputes.

US Trade Representative Jamieson Greer said the US agreed to drop its 145 per cent tariff rate on Chinese goods by 115 percentage points to 30 per cent, while China agreed to lower its rate on US goods by the same amount to 10 per cent.

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Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.

They said the two sides had set up consultations to continue discussing their trade issues.

AP