US Treasury Sec. Bessent: Both sides on reciprocal tariffs will move down 115%

US Treasury Secretary Scott Bessent is speaking at the scheduled briefing on the first round of high-level US-China trade talks held over the weekend in Geneva, Switzerland.

Key quotes

• We have reached an agreement on a 90-day pause and substantially moved down tariff levels.
• Both sides on reciprocal tariffs will move down 115%.
• Very good personal interaction, both sides represented national interests well.