Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday. The United States is dropping the extra tariffs it imposed on China this year to 30% from 145%,

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,

The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously — could help restore some confidence.

GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.

The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.

Beijing and Washington have both hailed the progress made at the end of a weekend of closed-door discussions in Switzerland aimed at de-escalating trade tensions sparked by US President Donald Trump’s aggressive worldwide tariff rollout in March and China’s retaliation.

Trump’s escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.

The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.