In a major win for global trade, China and the United States have pledged to remove or suspend most of the tariffs they recently imposed on each other. This breakthrough follows a two-day high-level meeting in Geneva, where both sides acknowledged that the imposed tariffs were choking essential markets and supply chains—especially those integral to tech and lifestyle products that many young entrepreneurs and professionals in South and Southeast Asia rely on. 🚀
High tariffs, which are like extra taxes on imported goods, had raised prices and nearly stalled trade completely. By rolling back 91% of these duties and temporarily suspending certain measures for 90 days, both economies are taking a step toward restoring smoother business flows and sparking fresh opportunities in areas like manufacturing and emerging technology. 👍
This move signals not just a relief for global supply chains but also a chance to set up a more dynamic, long-term dialogue between the two powerhouse economies. For those keeping an eye on international trends and innovation, this could mean positive ripple effects in tech, lifestyle, and beyond. Stay tuned for more updates as these talks pave the way for a new chapter in economic cooperation!
Reference(s):
China-U.S. trade tensions eased, broader issues to be discussed
cgtn.com
