US-China Trade Relations Take a Positive Turn

In a significant development, United States Treasury Secretary Scott Bessent announced a 90-day pause on certain tariffs between the US and China. This move, described as a mutual effort to "substantially move down the tariff levels," underscores both nations' commitment to avoiding economic decoupling and fostering a more balanced trade relationship.

Continued Dialogue and Future Prospects

Bessent highlighted the establishment of a "mechanism" for ongoing discussions to resolve outstanding issues. With optimism, he pointed towards potential purchase agreements that could help balance the largest bilateral trade deficit. Meanwhile, US Trade Representative Jamieson Greer confirmed the persistence of the 10% US global tariff and other measures from the first Trump administration, including those targeting the fentanyl trade.