MOSCOW

Russian Foreign Ministry spokeswoman Maria Zakharova on Thursday described the easing of the US-China tariff war as "good news," saying it will help to stabilize financial markets and alleviate growing concerns about a potential global economic recession.

"The trade de-escalation between China and the US is a positive development for global trade. This step significantly reduces fears of a global recession, which have been mounting in recent months due to a decline in international trade, particularly as a result of the sharp 'vertical rise' in mutual tariffs," she said.

The diplomat emphasized that "a positive effect has already been observed, particularly in the stabilization of global financial markets and the restoration of supply chains for products most impacted by this tariff upheaval."

Zakharova also expressed hope that the agreement between China and the US to establish a mechanism for economic and trade consultations would enable both countries to develop mutually acceptable frameworks for their future trade and economic relations.

Following negotiations in Geneva on Monday, the US and China agreed to a significant reduction in mutual tariffs for 90 days, announced US Treasury Secretary Scott Bessent and Chinese Minister of Commerce Li Chenyang.

Washington reduced tariffs on Chinese goods from 145% to 30%, while Beijing lowered tariffs on American goods from 125% to 10%. The two sides also agreed to establish a mechanism to continue discussions on economic and trade relations. The tariffs were in place for approximately one month.