China and US agree 90-day pause to trade war initiated by Donald Trump

<p>Countries to drastically cut reciprocal tariffs as US treasury secretary says ‘neither side wants a decoupling’</p><p>China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115 percentage points.</p><p>Speaking to the media after <a href="https://www.theguardian.com/us-news/2025/may/11/us-china-trade-talks-geneva-intended-de-escalate-tensions-lutnick">talks in Geneva</a>, the US treasury secretary, Scott Bessent, said both sides had shown “great respect” in the <a href="https://www.theguardian.com/us-news/2025/may/02/china-evaluating-us-offer-to-engage-in-trade-negotiations">negotiations</a>.</p> <a href="https://www.theguardian.com/us-news/2025/may/12/china-us-agree-pause-trade-war-trump">Continue reading...</a>