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Al Jazeera
Al Jazeera
Business
Alex Kozul-Wright

Did the US flinch first in tariff war with China?

China United States Donald Trump Scott Bessent Beijing He Lifeng White House
Trump chats with Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People in Beijing [File: Andy Wong/AP]

On Monday, the United States and China reached an agreement to slash sky-high tariffs for 90 days. Though both sides claimed they could withstand a long trade war, they reached a truce quicker than many analysts expected.

The breakthrough marked a dramatic ratcheting down of trade tensions following the tariff war launched by US President Donald Trump during his “liberation day” announcement on April 2.

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