Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday. The ministry said it would reduce the 34% duties on U.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

CBIZ has launched a new tariff solution service aimed at helping businesses navigate the complexities of changing trade rules, particularly in light of ongoing US-China trade tensions.

Chilean industrial conglomerate Empresas Copec said on Tuesday that the Chinese market for its forestry products could become more challenging if paper makers struggle to boost sales amid uncertainty over U.

Progress on US-China trade over the weekend sent stocks soaring on Monday. Some top commentators say tariffs are still a big risk.

A China-US deal to slash trade tariffs is set to push freight rates higher, as companies rush to use a 90-day grace period to ferry goods across the Pacific Ocean.

When she heard the news that Washington had slashed punitive tariffs on China for at least 90 days, Deng Jinling, manager of a Chinese company that exports thermos flasks to the U.S., popped open a bottle of champagne with her husband.