INSUBCONTINENT EXCLUSIVE:
Geneva officials announced Monday that the US and China will slash reciprocal tariffs from 125% to 10% under a 90-day agreement, halting a
months-long trade standoff.The deal suspends measures imposed after April 2 but preserves Trump-era tariffs, including a 20% levy on Chinese
fentanyl-related imports enacted earlier this year.The truce stabilizes a bilateral trade relationship facing a $1.2 trillion U.S
goods deficit, which stalled after tit-for-tat measures disrupted global supply chains and fueled stagflation fears.US Treasury Secretary
pre-existing tariffs, leaving US imports facing a 30% effective rate when combined with prior duties.Tariff reductions focus on reciprocal
Fentanyl Levies in 90-Day Pause Deal
(Photo Internet reproduction)U.S.-China Trade Truce Cuts Tariffs to 10%, Retains Fentanyl Levies in 90-Day Pause DealThe deal excludes
partners to reduce tariffs, addressing manufacturing losses from offshoring.Domestic pressures influenced both sides
US manufacturers sought relief from input shortages, while China grapples with industrial overcapacity and sluggish demand.The 90-day window
tests whether pragmatic dialogue can replace tariff brinkmanship, with failure risking a return to embargo-like barriers.Bessent blamed
deficits on unfair trade terms, currency issues, and U.S
fiscal overspending, vowing fiscal discipline.Greer credited repaired communication channels, neglected under Biden, for enabling talks,
welcome reduced costs and clearer rules, though lasting peace hinges on bridging divides that fueled the costliest trade war since the
