China and the US have finally struck a deal to significantly roll back tariffs, following two days of intense trade negotiations in Geneva, Switzerland.
The joint statement released after the meeting announced that the US will temporarily reduce its overall tariffs on Chinese goods — from 145% down to 30%. In return, China will lower its tariffs on American imports — from 125% down to 10%.
Both sides celebrated "substantial progress." Now, let's be clear — this doesn't mean the trade war is over. However, it is a positive development for the world — and a major win for Team China. This episode of News Xplained will break it down.
Reporter: Xie Hongzhou
Cameraman: Xie Hongzhou
Host: Xie Hongzhou
Video: Deng Yingheng
Poster: Deng Yingheng
Editor: Yuan Zixiang, James, Shen He
