Jessica Mendoza

But beyond the fact that the two delegations were meeting, Brian didn't know much.

Brian was on the lookout for U.S. Treasury Secretary Scott Besson and his entourage.

Brian was on the lookout for U.S. Treasury Secretary Scott Besson and his entourage.

Brian was on the lookout for U.S. Treasury Secretary Scott Besson and his entourage.

The convoy, with Brian's taxi tailing it, made its way to a private estate just outside Geneva's city center. And it was there that the U.S. delegation, led by Bessent, would hammer out a temporary truce in the trade war.

The convoy, with Brian's taxi tailing it, made its way to a private estate just outside Geneva's city center. And it was there that the U.S. delegation, led by Bessent, would hammer out a temporary truce in the trade war.

The convoy, with Brian's taxi tailing it, made its way to a private estate just outside Geneva's city center. And it was there that the U.S. delegation, led by Bessent, would hammer out a temporary truce in the trade war.

How would you describe Treasury Secretary Scott Besant's role during these talks?

How would you describe Treasury Secretary Scott Besant's role during these talks?

How would you describe Treasury Secretary Scott Besant's role during these talks?

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Tuesday, May 13th. Coming up on the show, the Treasury Secretary and the trade deal. Before this weekend, trade relations between the U.S. and China, the world's two largest economies, were at a low point. President Trump had set a 145% tariff on imports from China.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

In return, China hit back with a 125% tariff on goods coming in from the U.S.

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

The moves shook the markets. Some businesses started stockpiling goods from China, while others reassessed their plans. The deal marks a respite, though it's set to expire after 90 days. So what are the key details in the deal? Can you give a summary?

So the U.S. lowered its baseline tariffs all the way back down to 10% on Chinese goods. But there's an additional 20% tariff still in place, tied to fentanyl.