NEWS: US and China reach agreement to cut tariffs. Who Actually Won?

China and the United States have said they have made progress at trade talks between the two countries in Switzerland.

The US Treasury Secretary Scott Bessent described the discussions as "productive and constructive," while China's Vice Premier He Lifeng said the talks were "in-depth" and "candid".

The talks were the first face-to-face meetings between the two countries since US President Donald Trump imposed a 145% tariff on Chinese imports, with Beijing responding with a 125% levy on some US goods.

The huge tariffs caused turmoil in the financial markets and sparked fears of a global recession.