--- title: U.S. and China Agree on Tariff Pause in Major Trade War Rollback | TIME description: The U.S. and China agreed on Monday to significantly reduce tariffs on each other for an initial 90-day period in a major breakthrough in the trade war between the world’s two largest economies. canonical: https://time.com/video/PRQiv72c/ og:title: U.S. and China Agree on Tariff Pause in Major Trade War Rollback og:description: The U.S. and China agreed on Monday to significantly reduce tariffs on each other for an initial 90-day period in a major breakthrough in the trade war between the world’s two largest economies. og:url: https://time.com/video/PRQiv72c/ og:image: https://cdn.jwplayer.com/v2/media/PRQiv72c/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: U.S. and China Agree on Tariff Pause in Major Trade War Rollback twitter:description: The U.S. and China agreed on Monday to significantly reduce tariffs on each other for an initial 90-day period in a major breakthrough in the trade war between the world’s two largest economies. twitter:image: https://cdn.jwplayer.com/v2/media/PRQiv72c/poster.jpg?width=720 --- * U.S. # U.S. and China Agree on Tariff Pause in Major Trade War Rollback > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: U.S. and China Agree on Tariff Pause in Major Trade War Rollback [Watch (HLS stream): U.S. and China Agree on Tariff Pause in Major Trade War Rollback](https://cdn.jwplayer.com/manifests/PRQiv72c.m3u8) (2:44)  _Published 2025-05-12. The U.S. and China agreed on Monday to significantly reduce tariffs on each other for an initial 90-day period in a major breakthrough in the trade war between the world’s two largest economies._ --- May 12, 2025 5:20 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [China Accuses U.S. of Weaponizing Tariffs](/video/RQlx6adN/) ### China Accuses U.S. of Weaponizing Tariffs [Trump Says U.S. and China Have Reached Trade Deal, Drops Tariffs Scheduled for Sunday](/video/i2zkLeVS/) ### Trump Says U.S. and China Have Reached Trade Deal, Drops Tariffs Scheduled for Sunday [China to Hit U.S. With Tariffs on $60 Billion in Goods Amid Escalating Trade War](/video/M86kZui4/) ### China to Hit U.S. With Tariffs on $60 Billion in Goods Amid Escalating Trade War --- ## Transcript We have reached the an agreement on a 90 day pause. And substantially moved down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%. And so today with this agreement, we come to agreement that that our reciprocal tariff rate will go down to a will go down to 10% on the United States side. So it goes down to 115%. We enter into a 90 day pause period for negotiations, which both the Chinese and United States are very committed to. And the Chinese on their side also go down 115% to 10%, and they remove the countermeasures that they have in place. The consensus from both delegations this weekend is neither side wants a decoupling. And what had occurred with these very high tariffs, as Ambassador Greer said, was the equivalent of an embargo. And neither side wants that. We do want trade. We want more balanced trade. And I think that both sides are committed to achieving that. We would like to see China open to more US goods. We expect that as the negotiations proceed, that there will also be possibility of purchase agreements to pull what is our largest bilateral trade deficit into balance? That has gotten out of balance, and much of this has happened through neglect over the past four years, as the previous administration did not engage on this issue. First of all, that doesn't include the tariffs that are already on that are our tariffs, and it doesn't include tariffs on cars, steel, aluminum, things such as that or tariffs that may be imposed on pharmaceuticals because we want to bring the pharmaceutical businesses back to the United States. And they're already starting to come back now based on tariffs. The talks in Geneva were very friendly. The relationship is very good. We're not looking to hurt China. China is being hurt very badly. They were closing up factories. They were having a lot of unrest. And they were very happy to be able to do something with us. And the relationship is very, very good. 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