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In a major step toward easing trade tensions, the United States and China have agreed to reduce tariffs for a 90-day period starting May 14, according to a joint announcement from both governments.

US Treasury Secretary Scott Bessent stated that both nations will implement a mutual tariff reduction, with US duties on Chinese imports set to decrease to 30 percent and Chinese tariffs on American goods lowered to 10 percent, as reported by BBC.

The agreement also establishes a platform for ongoing conversation on economic and trade issues. China’s Ministry of Commerce expressed optimism that the US would remain committed to cooperation and emphasized that reducing tariffs aligns with the broader interests of the global economy, according to BBC.

President Ram Chandra Paudel and his spouse Sabita Paudel offered puja at Lhakhang Gumba in Boudha, Kathmandu on the occasion of the 2569th Buddha Jayanti on Monday.

They worshipped the Lord Buddha, went around the Boudha monastery, and had a sight of invaluable remains- astudhatu this morning.

The Buddhist devotees have thronged the monastery since early morning.

The Boudhanath and Melamchi Ghyang Guthi organized a function for the rare sight of the astudhatu.

Buddha Jayanti is celebrated with veneration at various Buddhist shrines like Lumbini, Boudha, Swayambhu, Namo Buddha and other monasteries across the country today.

Prime Minister KP Sharma Oli has wished for peace, compassion and brightness in everyone's life.

Giving a message of best wishes on the occasion of the 2569th Buddha Jayanti today, PM Oli viewed, "Gautam Buddha is an invaluable gift of light, humanity and compassion. Buddhas Jayanti reminds us of the birth, achievement of enlightenment and mahaparinirvana of the Lord Buddha."

PM Oli took to social media and said Buddha's philosophy is guiding us for correct vision, virtuous thoughts and inspirational works.

President Ram Chandra Paudel has said that it is a matter of pride for all Nepalis to have the birthplace of Lord Buddha, the apostle of peace.

Giving a message of best wishes on the occasion of the 2569th Buddha Jayanti today, President Paudel said Buddha's teachings are for social harmony, tolerance and peace. National unity is fostered with such tolerance and mutual harmony, he added. 

"On this occasion- the day the national pride, Light of Asia and precursor of world peace, Gautam Buddha, was born- I wish peace, prosperity and happiness to all Nepalis living in the country and abroad," President Paudel said in the message, reminding that special worship and sermons are conducted at monasteries today. Meditation and prayers are also organized on this occasion.

The teachings of the Lord Buddha inspire everyone for peace, coexistence, tolerance and respect to each other in a society and the world. He wished the Day encouraged all to follow the path shown by the Lord Buddha.