Washington will reduce tariffs to 30% for 90 days, while Beijing will lower them to 10%. The suspension will take effect on May 14. After a marathon of negotiations on neutral ground to calm the 2.0 trade war reignited by Donald Trump,

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%.

U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks on resolving their trade disputes.