New Delhi, May 12 -- With the ongoing trade discussions between the United States and China, Beijing has proposed to reduce tariffs on goods from the US to 10% from 125% for 90 days. Meanwhile, the US has proposed to cut tariffs on Chinese goods to 30% from 145% during the trade talks in Geneva.

The world's largest economies have temporarily agreed to lower tariffs on goods manufactured in both countries, according to joint statement released in Geneva. This measure aims to de-escalate trade tensions between the US and China following Donald Trump's reciprocal tariff announcement on April 2.

Published by HT Digital Content Services with permission from MINT....