China and the US today announced a truce in the trade war after their talks in Geneva yesterday, during which they agreed to suspend the implementation of most of the punitive duties and other measures that have imposed one country on Wednesday. Under the agreement, the Reuters agency reports, the US will reduce the additional duties imposed on China this year to 30% from 145% and in response to Beijing will reduce its duties on US products to 10% from 125%. However, the duties imposed before April 2, including those adopted during the first term of US President Donald Trump, as well as other restrictions – such as the US decision to annul the exemption from small value duties, appear to be in force. Decrease duties, but unevenly and not to 0% the US agreed to modify or cancel three executive decrees, […]
Source: News Beast
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