The 145 percent U.S. tariff on Chinese goods will come down to 30 percent under the deal. The U.S. Treasury secretary said “neither side wanted a decoupling.”

US and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs for 90 days and keep talking to resolve their trade disputes.

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.