The announcement marked a significant de-escalation of a volatile trade war ahead of Trump’s Thursday meeting with Xi.

The U.S. government is likely to abandon its plan to impose 100% tariffs on Chinese goods. According to Ukrinform, U.S. Treasury Secretary Scott Bessent said this in a comment, cited by Reuters.

Discover the top currencies pegged to the U.S. dollar, explore the benefits of pegging, and understand why nations choose this fixed exchange rate strategy.

Treasury Secretary Scott Bessent hailed a “very successful framework” for this week’s Trump-Xi meeting, while Beijing said ...