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Consumers get a 3-month reprieve as U.S. and China agree to temporarily slash tariffs
GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.
Markets rise as US and China agree to slash tariffs
The talks in Switzerland resulted in significant cuts to the tit-for-tat tariffs that had been stacked up over the last month on both sides. US tariffs on Chinese imports will fall to 30% from 145%, while China's tariffs on US goods will drop to 10% from 125%.
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