US, China Ease Trade Tensions in Geneva Agreement
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The U.S. and China issued a joint statement following a Geneva meeting, agreeing to ease trade tensions. Both countries will temporarily suspend some tariffs imposed in April 2025, reducing them by 24 percentage points for 90 days, maintaining a 10% rate. China will also lift non-tariff retaliatory measures. A mechanism for ongoing dialogue has been established, with designated representatives from both sides to continue discussions on economic and trade relations.
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