US and China agree to slash tariffs on each other

The US and China, the world's largest and second-largest economies, have agreed to slash tariffs on each other as they seek to end their trade war.

Speaking after talks with Chinese officials in Geneva, US treasury secretary Scott Bessent told reporters the two sides had reached a deal for a 90-day pause on measures.

US trade representative Jamieson Greer said so-called reciprocal tariffs were now at 10% each.