So apparently after all that the only thing that we know about the talks in Switzerland is that the US has agreed to reduce its tariffs on Chinese incoming goods to 30% and China has reduced its tariffs on US goods to 10%, essentially the US has caved and achieved nothing, and keep in mind even if full trade resumed immediately it would still take 30-45 days for goods to start arriving in the US.
Now the problem is this is a "pause" in the tariffs to allow more talk, so no-one actually knows what the costs of the goods they order now would actually be when then arrive in the US, and no word from Trump who was adamant the other day that 80% sounded right on China, so Bessant has agreed to drop them to 30%, which in the scheme of things is still actually quite high. I mean Trump could turn around in a week, after all US companies have put in orders, and suddenly decide tariffs are back at 80%, so nothing has changed and companies like Amazon who has decided to move its headquarters outside the US will probably continue down that route due to this uncertainty in the future.
The US and China have agreed a deal that will significantly cut the import tariffs they have imposed on each other, in a major de-escalation of their trade war.
US Treasury Secretary Scott Bessent said both countries would lower their reciprocal tariffs by 115% for 90 days.
The announcement came after the two countries held talks in Switzerland, the first between the two countries since US President Donald Trump had levied steep tariffs on Chinese imports last month.
Keep in mind, this isn't a victory for the US as it will be portrayed as, it's basically the US giving in and realising the tariffs were stupid, waiting for comments from stupid in chief on this one!
https://www.bbc.com/news/articles/czx0ry7kdk5o