• China trade war: The US and China have agreed to drastically roll back tariffs on each other’s goods for an initial 90-day period in a major trade breakthrough. By May 14, the US will temporarily lower its tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%.

The United States and China have struck a deal to slash tariffs for at least 90 days as both countries seek to end the trade war.U.S. Treasury Secretary Scott Bessent told reporters that “both countries represented their national interest very well” in the meetings in Geneva,