The newly announced Sino-U.S. framework lays out a 90-day tariff truce of sorts, slashing American tariffs on Chinese goods from 145% to about 30%, while cutting Beijing’s retaliatory duties from 125% to 10%.

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

President Trump's administration scaled back high tariffs on China after advisors, including Susie Wiles and Scott Bessent, cautioned that the economic burden disproportionately affected his core supporters.

Senior economic officials from the United States and China are scheduled to hold high-stakes talks in Geneva on Saturday, aiming to ease tensions in

President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal. If that comes to pass, it could represent a significant breakthrough with an increasingly important US trading partner.

Diplomats with the European Union are still waiting for in-depth negotiations to begin. And it's unclear how quickly a substantive agreement with China could be reached.