U.S. and China Agree to 90-Day Tariff Pause, Cutting Rates by 115%:

Suspense crime, Digital Desk : Tariff War Updates: The conflict between America and China had been damaging the global economy, but the latest news suggests that the things are starting to get back to normal. The reason for this is that both of the countries have consented to a significant cut to tariffs on each other’s products effective yesterday, Monday. As per CNN on 14th May, America will only charge a 30 percent tariff on Chinese goods instead of 145 percent. China has also agreed to lower the tariffs on American goods from 125 percent to 10 percent. Although, the time period attached to stimulus is very short according to reports and these figures are only valid for the first three months. The two nations shared this information in a joint statement.

Further negotiations are welcome. United States

As stated by Scott Besant, the US Treasury has come to an agreement with China to implement a 115 percent tariff reduction for a period of 90 days. Trade strife between Beijing and Washington is now easier to navigate, as both countries have come to this agreement period. While the rate of the tariff has been lowered, the acceptable outcome and timeline remain a mystery. No source claimed that a unified declaration has been made regarding the formulation of procedures aimed at sustaining the advancement of discussions about the economy and industry relations.

To put some context into this matter, the US high-profile meeting with China was taking place in Switzerland, where both sides have expressed their optimism regarding the outcomes of the dialogues. As it stands now, they have released optimistic statements on the progress and according to reports, additional information will be provided on Monday. As he testified before the House, he remembered that the US tries to establish a more equal commercial imbalance policy that favors trade partnership with China.

Welcomed by Asian stock markets

Following the agreement to lower tariff rates made by the US and China, Asian stock markets exploded. Concerning the local stock market, share gauge BSE Sensex and Nifty 50 surged over 3-3 percent. Moving on to the other parts of Asia, Hongkong's Hang Seng index surged by approximately 3 percent, Shanghai Composite in China increased by approximately 1 percent, Kospi index in South Korea rose by over 1 percent, and Taiwan Weighted in Taiwan improved over 1 percent too.