US and China reach deal to slash tariffs, say officials

Free Malaysia Today

US treasury secretary Scott Bessent said both countries have an interest in balanced trade and the US will continue moving towards that.  Read More: https://www.freemalaysiatoday.com/category/highlight/2025/05/12/us-and-china-reach-deal-to-slash-tariffs-say-officials  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #ScottBessent #US #China #Tariff

Transcript

00:00The United States and China have agreed on a deal to slash reciprocal tariffs for now,

00:07as the world's two biggest economies seek to end a trade war that has disrupted the global outlook

00:12and set financial markets on edge.

00:15Speaking after talks with Chinese officials in Geneva,

00:19U.S. Treasury Secretary Scott Besant told reporters on Monday that the two sides had agreed on a 90-day pause

00:25on measures and that tariffs would come down by over 100 percentage points to 10%.

00:30We had very robust discussions.

00:36Both sides showed great respect.

00:40We have reached an agreement on a 90-day pause

00:49and substantially move down the tariff levels.

00:57Both sides on the reciprocal tariffs will move their tariffs down 115%.

01:04Besant was speaking alongside U.S. Trade Representative Jameson Greer

01:08after the weekend talks in which both sides had held progress on narrowing differences.

01:13The Geneva meetings were the first face-to-face interactions between senior U.S. and Chinese economic officials

01:21since U.S. President Donald Trump returned to power and launched a global tariff blitz,

01:26imposing particularly hefty duties on China.

01:29The tariff dispute brought nearly $600 billion in two-way trade to a standstill,

01:35disrupting supply chains, sparking fears of stagflation and triggering some layoffs.

01:40of the time as it goes.

01:41of again PGF

01:42of U.S.

01:42the tax cuts

01:44of a trade

01:44of an illegal

01:56當

01:57of a

01:59wind

02:00of

02:01a

02:02$700

02:03a

02:05$20

02:06$70

02:07$70

02:08$500

02:09$250

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Transcript

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