US, China agree to slash tariffs by 115% for 90 days after talks in Geneva

The United States says it's reached a deal with China to temporarily slash reciprocal tariffs. It marks a significant de-escalation in the trade war that blew up last month, when US President Donald Trump imposed sweeping levies. Speaking after the high-stakes talks in Geneva, US Treasury Secretary Scott Bessent announced both Washington and Beijing had agreed to cut tariffs on each other's goods.