US and China reduce mutual import tariffs

The tariff war initiated by American President Trump takes a surprising turn: the US and China have reached an agreement on a drastic reduction of the reciprocal import tariffs.

The two countries issued a joint statement on Monday in which they stated that the mutual tariffs will be significantly reduced for a period of 90 days: the US will lower its tariffs on Chinese goods from 145 percent to 30 percent, and China will lower its tariffs on American goods from 125 percent to 10 percent.

The reduction is the result of discussions held by both parties last weekend in Geneva, Switzerland.

(PP with DC - Source: CNN, Bloomberg, NYT - Picture: © DPA picture alliance/dpa/MAXPPP | -)