US and China trade breakthrough as tariffs reduced for 90 days

Markets have risen on news of a US-China trade agreement. What has been announced, and what does it mean for your investments?

Macro of One Hundred Dollar Bill and Chinese Yuan Note
(Image credit: NSA Digital Archive via Getty Images)

US-China trade relations are back on track after both countries announced a 90-day reduction in the steep tariffs that had threatened to derail the global economy.

Fears of a US-China trade war had been brewing ever since US president Donald Trump announced sweeping tariffs on 2 April, which he dubbed “Liberation Day”.

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Country

2023 GDP ($ trillion)

USA

27.72

China

17.79

Germany

4.53

Japan

4.20

India

3.57

UK

3.38

Dan McEvoy
Senior Writer

Dan is a financial journalist who, prior to joining MoneyWeek, spent five years writing for OPTO, an investment magazine focused on growth and technology stocks, ETFs and thematic investing.

Before becoming a writer, Dan spent six years working in talent acquisition in the tech sector, including for credit scoring start-up ClearScore where he first developed an interest in personal finance.

Dan studied Social Anthropology and Management at Sidney Sussex College and the Judge Business School, Cambridge University. Outside finance, he also enjoys travel writing, and has edited two published travel books.