China and the US are to lower, at least temporarily, the prohibitively high tariff levels they exposed on each other in April.

Following a weekend of talks in Geneva, the two countries announced new measures on May 12. For 90 days, while talks on a more permanent arrangement continue, the US will lower to 30% the “reciprocal” tariff on Chinese goods of 145% that President Donald Trump announced in April.

For its part, China will reduce its retaliatory levy on US goods from 125% to 10%.

Separate tariffs of 20% on materials imported from China that the US links to the manufacture of synthetic opioids will remain.

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