In a pivotal move, the United States and China have resumed face-to-face trade negotiations in Geneva, aiming to resolve the tariff conflict that has rattled global markets.

U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop the 145% tax Trump imposed last month to 30%. China agreed to lower its tariff rate on U.S. goods to 10% from 125%. Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.

GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.

President Donald Trump on Friday said an 80% tariff on China "seems right" ahead of trade talks between U.S. and China in Switzerland this weekend. On Thursday, Trump announced a

The U.S. and China are undergoing trade talks in their first meeting since President Trump imposed a 145% tariff on China. Commerce Secretary Howard Lutnick previewed the meeting as a de-escalation. John Avlon,