U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
The U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.
A 90-day pause doesn’t do anything. People are not going to make any long-term plans based on 90 days of uncertainty. Who’s going to make a plan for 90 days when day 91 everything could change? If they done this like a month ago maybe it would have helped, but now it’s too late.