US and China reach deal to slash tariffs, lifting dollar By Reuters

U.S.-China Tariff Agreement: The U.S. and China have reached a temporary agreement to significantly reduce reciprocal tariffs, with the U.S. cutting tariffs on Chinese imports from 145% to 30%, and China reducing its tariffs on U.S. goods from 125% to 10% for 90 days, aiming to ease trade tensions and stabilize financial markets.

Market Reactions and Economic Implications: Following the announcement, stock markets rose, alleviating recession fears, while analysts expressed optimism about the positive impact on both economies and global supply chains, highlighting the importance of continued trade relations between the two nations.