The United States and China to reduce the definitions significantly for 90 days, the White House announces

The United States and China have agreed to reduce temporary but large definitions imposed over the past two months, as the country said in a joint statement participated in the White House, as it announces great success in the commercial negotiations that rose during the weekend.

In the joint statement that was released early on Monday morning, the two sides said they agreed to this Continuous discussions They have the ability to address the concerns of each aspect in their economic and commercial relationship, “and this” moved forward with the spirit of mutual opening, continuous communication, cooperation, and mutual respect “, both parties committed to a 90 -day suspension for most of the fees imposed since early April.

“We have reached an agreement on a 90 -day stand,” US Treasury Secretary Scott Bessens told reporters in Geneva, Switzerland, where he spent the weekend in meetings with their Chinese counterparts. He said that Washington and Beijing would reduce the mutual tariff by 115 percentage points for a period of three months to give the negotiating room to move forward.

Pesin said that temporary cuts will effectively reduce the level of American definitions that are still valid on Chinese goods to about 30 %, while China was reducing its fees for American imports to 10 %.

The White House’s imposition of drawings, which amounted to about 145 % on all goods imported from China, and the 125 % reprisals in Beijing on American imports have threw a long shadow on global financial markets, as the largest economists in the world spent early spring appear in a commercial war.

“Both countries represent their national interest very well,” Pesin told a press conference on Monday in Geneva, along with the American commercial actor, Jameson Jarir. “We both have an interest in balanced trade, and the United States will continue to move towards it.”

The markets of goods and currency in Asia and beyond were largely supported by the penetration news in the negotiations on Monday.

Speaking on Sunday, Bessent said that there was “great progress” in sensitive talks with their Chinese counterparts in Geneva, while Jarir suggested reaching an agreement but did not make any hint in the details.

“It is important to understand how quickly we can reach the agreement, which reflects that the differences may not have been large as it might think,” Jarir told reporters on Sunday.