After weeks of reciprocal tariffs by the US and China on each other's exports, a high-level meeting held in Geneva appears to have resulted in the reset button being firmly pressed. For an initial period of 90 days,

Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.