‘Total reset’: U.S. and China agree to lower tariffs

U.S. and China agree to major tariff cuts to 10% after Geneva talks, signaling a shift towards cooperation, though a 20% fentanyl-related tariff remains.

The U.S. and China have reached a major breakthrough, agreeing to sharply reduce tariffs following high-stakes meetings in Geneva.

President Trump’s tariffs on Chinese goods will drop from 125% to just 10%, while China will reciprocate by slashing its retaliatory tariffs on American exports to 10%.

However, a separate 20% tariff tied to China’s alleged role in the fentanyl trade will remain in place.

The move signals a clear shift from conflict to cooperation, after years of economic tension that rattled global markets.

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