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

The agreement was cheered in Beijing as vindication for Xi Jinping and his defiant response to President Trump’s trade war.

Both the U.S. and China could be back at the negotiation table again soon to hash out further details, according to Treasury Secretary Scott Bessent.

The Trump administration drops the tariff rate on packages from China valued at under $800 from 120% to 54%, but that's still pretty high for a Shein haul.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

The bank said in a Tuesday note that in light of Trump’s China agreement, which lowered most tariffs on China to 30% from 145% for three months, the possibility of a recession t

There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.

The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.