US Slashes Tariffs on Chinese Goods Amid Trade Talks Breakthrough

By A Staff Reporter

Washington, D.C.: In a significant de-escalation of trade tensions, United States Secretary of the Treasury Scott Bessent announced that the US will reduce its existing 145 percent tariff on Chinese imports by 115 percentage points, bringing the new rate down to 30 percent. The announcement follows a high-level round of negotiations between US and Chinese officials aimed at recalibrating the economic relationship between the two global powers.

Speaking at a press conference, Bessent described the talks as “robust” and “respectful,” underscoring a newly struck 90-day pause in tariff escalations. “We have reached an agreement on a 90-day pause and substantially moved down the tariff levels — both sides, on the reciprocal tariffs, will move their tariffs down 115 per cent,” he said.

Bessent emphasized that the discussions revealed mutual interests in achieving balanced trade and easing economic tensions. “We concluded that we have shared interest and we both have an interest in balanced trade. The US will continue moving towards that,” he added.