US-China Trade Truce: Tariffs Cut from 145% to ~30% for 90 Days

The US and China agreed to a 90-day trade truce, with the US reducing China tariffs from ~145% to approximately 30%, and China reducing US tariffs from 125% to 10%. The temporary truce relieved immediate pressure on supply chains and allowed some trade to resume. However, economists warned that the underlying dispute was unresolved and the truce's expiry would renew uncertainty. Global equity markets rallied 2–3% on the news.