US and China agree to slash tariffs on each other

News Snapshot:

The US and China have agreed to slash tariffs on each other as they seek to end their trade war. Speaking after talks with Chinese officials in Geneva, US treasury secretary Scott Bessent told reporters the two sides had reached a deal for a 90-day pause on measures. US trade representative Jamieson Greer said reciprocal tariffs were now at 10% each. Tariffs, taxes on imports of more than 100%, had been imposed on both sides. China was the only country exempt from a 90 pause on the so-called retaliatory tariffs above the base 10% levies applied by America. Major retailers...