Negotiators from the U.S. and China have reached an agreement to dramatically reduce tariffs on each other's goods, lowering American tariffs on Chinese products from at least 145% to 30%, while Chinese tariffs on U.S. goods drop from 125% to 10%. The talks, held in Switzerland, were characterized by a shared commitment to balanced trade and addressing fentanyl smuggling issues. Both sides expressed satisfaction with the outcomes, and established a consultation mechanism for ongoing trade discussions, representing a significant development in U.S.-China economic relations.
The U.S. and China reached a landmark agreement to reduce tariffs significantly, showcasing a shared interest in balanced trade, reflecting a positive shift in negotiations.
Negotiators emphasized the importance of collaboration in achieving shared interests, with a strong focus on addressing the pressing issue of fentanyl smuggling.
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