In a landmark announcement, China and the United States have agreed to roll back tariffs for the next 90 days, a move welcomed as a crucial step toward rebuilding global trade.
The European Commission's executive arm applauded the pact on Monday, with spokesperson Olof Gill calling it a key step toward lowering global trade barriers.
Why 90 Days Matter
Tariffs often act like speed bumps in global commerce:
- Higher costs: Importers and exporters pay more, which can drive up prices for consumers.
- Supply chain strain: Extra fees slow down trade, affecting businesses worldwide.
- Diplomatic signal: A temporary truce opens space for longer-term talks.
By pausing these duties, both superpowers aim to ease pressure on industries across Asia, Europe and the Americas. For young entrepreneurs and startups, lower tariffs can mean more predictable margins and a smoother path to international markets.
What's Next?
Over the 90-day window, negotiators will seek a more permanent solution to the tariff standoff. All eyes are on capitals from Washington to Beijing – and on the next steps for global supply chains.
This truce reminds us how interlinked our economies are and how collective action can keep trade flowing in a complex world.
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China-US tariff rollback a crucial step to rebuilding global trade
cgtn.com
