US and China reach deal to temporarily slash tariffs, easing slump fears

By  REUTERS

REUTERS

What you need to know:

  • The U.S. will cut extra tariffs it imposed on Chinese imports in April this year to 30 percent from 145 percent and Chinese duties on U.S. imports will fall to 10 percent from 125 percent for the next 90 days, the two sides said on Monday.

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