US and China agree 90-day pause on tariffs

Representatives of the two nations concluded talks in Geneva aimed at easing the international trade war

US trade representative Jamieson Greer, left, and US secretary of the treasury Scott Bessent announce details of the pause in tariffs with China in Geneva on Monday. Picture: Jean-Christophe Bott/Keystone via AP 

The United States and China said on Monday they have agreed a deal to slash reciprocal tariffs for now as the world's two biggest economies seek to end a trade war that has disrupted the global outlook and set financial markets on edge.

Speaking after talks with Chinese officials in Geneva, US treasury secretary Scott Bessent told reporters the two sides had agreed on a 90-day pause on measures and that tariffs would come down by over 100 percentage points to 10%.