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Geneva talks deliver tariff breakthrough

12/05/2025

China and the US are to lower, at least temporarily, the prohibitively high tariff levels they exposed on each other in April.

Following a weekend of talks in Geneva, the two countries announced new measures on May 12. For 90 days, while talks on a more permanent arrangement continue, the US will lower to 30% the “reciprocal” tariff on Chinese goods of 145% that President Donald Trump announced in April.

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