15:19⇢US-China Slash Tariffs While Trump Plans Xi Call
⌨The newspapers report on a significant US-China trade agreement to mutually reduce additional tariffs by 115 percentage points (Nikkei Shimbun, Nikkei Asia, Yahoo News Japan, The Japan Times, Kyodo News). The US will lower cumulative tariffs from 145% to 30%, while China will reduce its tariffs from 125% to 10%. Both countries will suspend a portion of these reductions for 90 days while continuing bilateral talks. US Treasury Secretary Bessent emphasized neither side wants "decoupling." Additionally, Yahoo News reports Trump intends to hold phone talks with Chinese President Xi.