Trump says US-China relations ‘reset’ as markets surge on tariff pause

Wednesday, 14 May 2025 00:02 - - {{hitsCtrl.values.hits}}

US President Donald Trump

US President Donald Trump says the US has achieved a “total reset” in relations with China after both countries agreed to reduce tariffs on each other’s goods for 90 days. Trump says that he expects to meet soon with Chinese President Xi Jinping – and has told reporters at the White House that he doesn’t think tariffs on the country will reach the same heights as before.

Trump

US markets have surged after the deal between Washington and Beijing, a major de-escalation in their trade war.

Both sides are set to slash tariffs by 115% starting from Wednesday – with US tariffs on Chinese products falling to 30% and China’s reciprocal tariffs on the US falling to 10%.

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