Donald Trump’s team is throwing itself into the most expansive and simultaneous set of high-level diplomatic negotiations in years, involving China, Ukraine, Russia, Iran, the Middle East and multiple global trading rivals.

President Donald Trump's announcement that the U.S. and China will temporarily lower tariffs while they negotiate a new trade deal that will open up access China to U.S. businesses.

The U.S. and China agreed to lower tariffs for 90 days. The details: U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent. Meanwhile, China’s blanket tariffs on U.S. products will drop to 10 percent from 125 percent. A few tariffs will remain. President Donald Trump signed an order to lower prescription drug prices.

President Donald Trump touted trade negotiations with China in Switzerland Saturday, noting "many things" were discussed and "much [was] agreed to."

Commerce Secretary Howard Lutnick said the Trump administration's goal is to use the power of the American economy to open China to U.S. exporters.