Write an article about
GENEVA, May 12 (Bernama-Anadolu) — The US and China have agreed to a sweeping rollback of punitive tariffs for an initial 90-day period, signalling a rare moment of relief in their protracted trade conflict and raising hopes for longer-term economic stability, according to a joint statement released by the US on Monday.
According to Anadolu Ajansi (AA) the deal, reached following intense weekend negotiations in Geneva, will see both countries significantly reduce duties on each other’s goods, with the US lowering its tariffs on Chinese products from 145 per cent to 30 per cent and China decreasing its own from 125 per cent to 10 per cent by May 14.
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer made the joint statement public during a press briefing in Geneva.
Though only temporary, the agreement is the most significant step toward easing trade tensions in years, providing a lifeline to global markets rattled by months of uncertainty.
In the joint statement, both governments acknowledged the importance of “a sustainable, long-term, and mutually beneficial” trade relationship.
To that end, the two sides will launch a new dialogue mechanism to maintain momentum, led by Chinese Vice Premier He Lifeng, Bessent, and Greer.
Future talks may alternate between “China, the United States, or a third country upon agreement of the parties” venues, with lower-level technical discussions convened as needed.
The surprise rollback follows years of tit-for-tat tariffs that disrupted global supply chains and fueled economic anxiety.
The talks, which began Saturday in the Swiss city, came after US President Donald Trump raised tariffs on Chinese imports to 145 per cent, prompting Beijing to retaliate with 125 per cent duties on American goods.
— BERNAMA-ANADOLU
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
in 1000-1500 words .Organize the content with appropriate headings and subheadings (h1, h2, h3, h4, h5, h6), Retain any existing tags from
GENEVA, May 12 (Bernama-Anadolu) — The US and China have agreed to a sweeping rollback of punitive tariffs for an initial 90-day period, signalling a rare moment of relief in their protracted trade conflict and raising hopes for longer-term economic stability, according to a joint statement released by the US on Monday.
According to Anadolu Ajansi (AA) the deal, reached following intense weekend negotiations in Geneva, will see both countries significantly reduce duties on each other’s goods, with the US lowering its tariffs on Chinese products from 145 per cent to 30 per cent and China decreasing its own from 125 per cent to 10 per cent by May 14.
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer made the joint statement public during a press briefing in Geneva.
Though only temporary, the agreement is the most significant step toward easing trade tensions in years, providing a lifeline to global markets rattled by months of uncertainty.
In the joint statement, both governments acknowledged the importance of “a sustainable, long-term, and mutually beneficial” trade relationship.
To that end, the two sides will launch a new dialogue mechanism to maintain momentum, led by Chinese Vice Premier He Lifeng, Bessent, and Greer.
Future talks may alternate between “China, the United States, or a third country upon agreement of the parties” venues, with lower-level technical discussions convened as needed.
The surprise rollback follows years of tit-for-tat tariffs that disrupted global supply chains and fueled economic anxiety.
The talks, which began Saturday in the Swiss city, came after US President Donald Trump raised tariffs on Chinese imports to 145 per cent, prompting Beijing to retaliate with 125 per cent duties on American goods.
— BERNAMA-ANADOLU
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
and integrate them seamlessly into the new content without adding new tags. Include conclusion section and FAQs section at the end. do not include the title. it must return only article i dont want any extra information or introductory text with article e.g: ” Here is rewritten article:” or “Here is the rewritten content:”