Businesses upbeat over Sino-US tariff respite

Business groups and economists have welcomed the tariff adjustment measures announced by China and the United States on Monday, expressing the hope that the 90-day triple-digit tariff respite will allow both countries to further de-escalate trade tensions.

While this provisional agreement marks a notable development in China-US trade relations, analysts warned that business communities should maintain a measured approach, rather than be overly optimistic, as uncertainties still surround the sustainability of the deal and future trade negotiations.

According to a joint statement released by the world's two largest economies after a high-level meeting held over the weekend in Geneva, Switzerland, the US has agreed to slash its 145 percent tariffs on Chinese imports to 30 percent, while China has agreed to lower its tariffs on US goods to 10 percent from 125 percent.