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.

U.S. President Donald Trump's tariff decisions since he took office on January 20, from imposing sweeping duties to abruptly pausing some of them, have shocked financial markets and sent a wave of uncertainty through the global economy.

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

The world's largest retailer said wide-ranging levies on U.S. trade partners are impeding its ability to keep prices low.

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.