US to cut tariffs on China to 30%, China lowers those on US to 10%: US trade chief

The United States and China have agreed to temporarily slash their tit-for-tat tariffs, with the US rate down to 30 percent and Chinese duties cut to to 10 percent, the US trade chief said Monday.

Following a weekend of trade talks in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer told reporters the sides had agreed to temporarily roll back “reciprocal tariffs” by 115 percentage points for a 90 day period.