China and the U.S. Ease Trade Tensions in Historic Agreement

Al Mukhbir

China and the U.S. Ease Trade Tensions in Historic Agreement  #China #USA #TradeWar #TradeAgreement #TariffCut #EconomicDiplomacy #GenevaTalks #GlobalMarkets #USChinaRelations #InternationalTrade #EconomicPolicy #StockMarketNews #NAFTA #EconomicStability #BreakingNews

Transcript

00:00A major breakthrough in U.S.-China relations.

00:03After years of tit-for-tat tariffs and rising tensions,

00:06the world's two largest economies are finally taking a step back from the brink.

00:11In a joint statement released after two days of trade talks in Geneva,

00:16Washington and Beijing announced an agreement to suspend some of the steep tariffs fueling the trade war.

00:22The U.S. will now lower its additional ad valorem duties by 24 percent

00:26for an initial 90-day period, bringing the rate down to 10 percent.

00:31Both sides described the talks as positive and reaffirmed the importance of their economic relationship

00:37not just for their nations, but for the global economy.

00:42Stock markets in the U.S., Europe and Asia rallied on the news,

00:47signaling cautious optimism that tensions may be cooling.

00:51The agreement also highlighted a renewed commitment to communication, cooperation and mutual respect,

00:56but will 90 days be enough to reshape a trade relationship that has grown increasingly bitter?

01:02For now, the world is watching and hoping.

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