Surprisingly, the US and China agreed to drastically cut tariffs for 90 days, calming global markets and reviving hopes for long-term economic cooperation.
- The US will reduce tariffs on Chinese goods from 145% to 30% starting May 14.
- China will cut tariffs on American imports from 125% to 10%, effective immediately.
- Talks in Geneva ended with plans for sustained dialogue led by top US and Chinese officials.
Traders, manufacturers, and consumers in both countries may breathe easier, at least for now. For Nigerians and others in global supply chains, the easing signals potential price relief and economic stability. “It’s a much-needed pause,” a logistics analyst noted.
Can this 90-day reprieve lead to a more balanced and lasting trade framework? Or is it just a temporary fix to deeper tensions?
