


Nick Edser & Jonathan Josephs
Role, Business reporters, BBC News
12 May 2025, 08:11 BST
Updated 1 hour ago
The US and China have agreed a deal that will significantly cut the import tariffs they have imposed on each other, in a major de-escalation of their trade war.
US Treasury Secretary Scott Bessent said both countries would lower their reciprocal tariffs by 115% for 90 days.
This will cut US tariffs on Chinese imports to 30%, while Chinese tariffs on US imports will be cut to 10%. The pause will begin on 14 May.
The US measures still include an extra 20% component aimed at putting pressure on Beijing to do more to curb the illegal trade in fentanyl, a powerful opioid drug.