00:00The U.S. and China just hit pause on a trade war that's been simmering for years,
00:04and it could change everything.
00:06In a surprise move, both nations agreed to cut tariffs and delay major restrictions.
00:11The U.S. slashed its fentanyl tariff on Chinese goods from 20% to 10%.
00:15It also extended a key tariff suspension for another year,
00:19a major shift from the usual 90-day renewals.
00:22In return, China postponed rare-earth export controls that were about to hit in December.
00:27And there's more the U.S. will hold off on harsh penalties against China's shipping and shipbuilding industries.
00:34China responded by delaying its own retaliatory moves.
00:37Plus, both countries agreed to fight fentanyl trafficking together and expand agricultural trade.
00:43Even TikTok's fate got a hopeful twist, with both sides aiming for a peaceful solution.
00:48All of this came after high-level talks in Busan and follow-up negotiations in Kuala Lumpur.
00:53Is this the beginning of a new era of cooperation?
00:55Or just another pause before the next storm?
00:59Only time will tell.
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