Did the US flinch first in tariff war with China? | Trade War News

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.

Trump initially unveiled so-called reciprocal tariffs on dozens of countries before