US-China Trade Agreement

SOURCE www.breitbart.com
The United States and China have agreed to suspend the majority of tariffs in their trade standoff for 90 days while formal negotiations continue. Both countries will reduce reciprocal tariffs to 10 percent from 125 percent and suspend non-tariff countermeasures.

Key Points

  • Reduction of reciprocal tariffs to 10 percent from 125 percent
  • Suspend non-tariff countermeasures
  • First major step back from confrontation

Pros

  • Reduction of tariffs will ease economic tensions between the two countries
  • Initial step towards a more sustainable and mutually beneficial trade relationship

Cons

  • The agreement is temporary and subject to further negotiations