The 145 percent U.S. tariff on Chinese goods will come down to 30 percent for 90 days, while the two sides continue talks aimed at resolving their differences.

The US and China have agreed to put most tariffs on pause for 90 days, marking a major deescalation in a trade tit-for-tat that has roiled global markets. Treasury Secretary Scott Bessent, who led weekend trade talks for the US delegation,

The world’s two biggest economies agreed to a 90-day pause on most of their levies after a first round of trade talks in Switzerland over the weekend.