The US and China have significantly cut tariffs on each other’s products. This decision aims to ease ongoing trade tensions between the world’s two largest economies. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced this move during a recent briefing. The temporary reduction will last for three months, allowing both nations to work on resolving their trade disputes. This strategic initiative reflects a mutual understanding that both economies benefit from a less adversarial trade climate. Businesses and consumers alike can anticipate potential relief in prices and broader market stability as the agreement unfolds.