U.S. AND CHINA TO CUT TARIFFS, EASING TRADE TENSIONS The U.S. and China agreed to sharply reduce tariffs, signaling a shift from conflict to cooperation between the world’s top economies. Key points from Geneva talks: 🔸 Trump’s tariff on Chinese goods drops to 10% from 125%. 🔸 A separate 20% fentanyl-related tariff stays in place. 🔸 China cuts its retaliatory tariffs to 10% from 125%. 🔸 The cuts are temporary, lasting 90 days as talks continue. Markets reacted strongly: 🔸 S&P 500 poised to recover losses since April. 🔸 Nasdaq-100 futures jumped 3.5%+. 🔸 Amazon, Apple, Tesla rose in premarket trading. 🔸 Dollar and bond yields climbed. The trade war had stalled U.S.-China trade and hurt businesses. This deal raises hopes of avoiding the worst economic fallout.