China reduce tariffs on US Goods from 125% to 10% for the next 90 days

China and the United States are currently making plans to reestablish business relationship which was broken few months ago.

China has announced that they will be reducing tariffs on all US goods from the current 125% to 10%.

This development comes after intensive and high-stakes talks held between the two countries in Geneva.

This marks a significant shift in the ongoing trade war between two of the world’s largest economies.

As we reported earlier, the United States will also be cutting tariffs on Chinese imports from an enormous 145% down to 30%.

It is also important to note that the tariff reductions are for an initial period of about 90 days.

This will create a more comfortable room for both countries to negotiate a favorable term for their respective countries.