US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer after trade talks with China in Geneva. Valentin Flauraud/AFP/Getty Images 2025-05-12T07:46:11Z Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? The US and China have agreed to reduce tariffs for 90 days after trade talks in Geneva. The US will cut tariffs on Chinese goods from 145% to 30% during this period. China will lower tariffs on American imports from 125% to 10% in the same timeframe. The US and China have agreed to slash some tariffs for 90 days."We have reached an agreement on a 90-day pause and substantially moved down the tariff levels," US Treasury Secretary Scott Bessent said in Geneva on Monday following trade talks over the weekend.The agreement will see the US slashing tariffs on Chinese goods from 145% to 30% for 90 days, Bessent said.China will lower its tariffs on American imports from 125% to 10% over the same period, he said.Bessent said the talks with China were "robust" and that both sides had shown "great respect."This is a developing story. Please check back for updates. Recommended video