Overview

• The United States and China have agreed to a 90-day suspension of their most punitive tariffs, reducing most rates to 10% but excluding steel, aluminum, autos, and fentanyl-related tariffs.
• The joint declaration, issued after talks in Geneva, also establishes a mechanism for continued negotiations to address broader trade issues.
• Financial markets responded positively, with global indices, including Hong Kong's Hang Seng and U.S. markets, posting significant gains following the announcement.
• China has lifted its ban on Boeing jet deliveries, signaling initial steps toward easing trade tensions, though disputes over fentanyl tariffs persist.
• Leaders from both nations, including Presidents Trump and Xi, have framed the truce as a 'reset' in relations, emphasizing the importance of collaboration over economic isolation.