- US and China agree to drastically roll back tariffs | CNN Business
- The United States and China have agreed to drastically roll back tariffs on each other’s goods for an initial 90-day period, according to a joint statement released by the two countries Monday.
US and China are set to drastically roll back tariffs
Mon. May 12, 2025
Hong Kong
CNN
The United States and China have agreed to drastically roll back tariffs on each other’s goods for an initial 90-day period, according to a joint statement released by the two countries Monday.
The announcement comes after a weekend of marathon trade negotiations in Geneva, Switzerland by officials from the world’s two largest economies.
This is a developing story and will be updated.
Stock futures rise after both sides report progress in US-China trade negotiations
From CNN's Auzinea Bacon
Stock futures rose this evening after Treasury Secretary Scott Bessent said “substantial progress” was made during trade negotiations with Chinese officials in Switzerland, potentially thawing tensions kickstarted by President Donald Trump’s escalating tariff policy.
Chinese officials echoed the US sentiment, with the country’s vice premier saying the sides had reached an “important consensus.”
Dow futures jumped 1.10%, or 456 points. The S&P 500 futures rose 1.25%, or 70.75 points, while the tech-heavy Nasdaq Composite futures went up 1.44%, or 289.25 points, as of 6:15 p.m. ET.
Bessent and US Trade Representative Jamieson Greer joined other US officials in Geneva to meet with Chinese officials after Trump imposed sweeping 145% tariffs on most Chinese goods last month. China retaliated with 125% on US goods.
Markets have whipsawed in recent weeks due to uncertainty about Trump’s changing tariff policies.
Trump’s tariff thunderbolt strikes a world with proven resilience
The WTO may be weakened, but a pragmatic resistance to protectionism among other nations could save world trade
- Trump’s tariff thunderbolt strikes a world with proven resilience
- The WTO may be weakened, but a pragmatic resistance to protectionism among other nations could save world trade
"Let’s Talk About Tariffs and How to Protect Your Profit Margins"
1. Review and adjust your pricing strategies
2. Negotiate with suppliers and diversify distributors
3. Enhance supply chain visibility
4. Optimize fulfillment without compromising the customer experience
5. Double down on customer retention and loyalty
- Let’s Talk About Tariffs and How to Protect Your Profit Margins
- In the midst of tariffs, commerce leaders are in a cloud of uncertainty. These actionable tips will help you protect profit margins.
