SHOTLIST: NEW YORK, UNITED STATES (MAY 31, 2022) (ANADOLU - ACCESS ALL) (FILE FOOTAGE) (00:00 - 00:40) 1. VARIOUS OF DRONE SHOTS OF CONTAINER SHIPS FELIXSTOWE, UK (AUG. 22, 2022) (ANADOLU - ACCESS ALL) (FILE FOOTAGE) (00:40 - 01:37) 2. VARIOUS OF CONTAINER SHIPS AT PORT OF FELIXSTOWENEW YORK, UNITED STATES, FELIXSTOWE, UK - AUG. 22, MAY 31, 2022: The US reduced tariffs on Chinese goods from 145% to 30%, while China cut tariffs on American products from 125% to 10%, as part of a 90-day trade truce announced on Monday, May 12. The two countries are set to establish a mechanism to continue discussions about economic and trade relations. The tariff reductions follow former U.S. President Donald Trump's initial imposition of steep tariffs on Chinese imports. In response, China also imposed its tariffs on American products, before both sides agreed to lower duties for 90 days. On Sunday, the US and China reported "substantial progress" following two days of high-level talks in Geneva. The talks, which began Saturday in the Swiss city, came after weeks of rising strain between the world's two largest economies. US President Donald Trump raised tariffs on Chinese imports to 145%, prompting Beijing to retaliate with 125% duties on American goods. US Treasury Secretary Scott Bessent, speaking alongside US Trade Representative Jamieson Greer, told reporters Sunday that the discussions were "productive" following the end of talks. "I'm happy to report that we made substantial progress between the United States and China in these very important trade talks," Bessent said, expressing gratitude to the Swiss government for hosting the talks. "I think that led to a great deal of the productivity we've seen." He added that both he and Greer had briefed Trump on the developments, and that further details would be made public on Monday.