The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.

While U.S. President Donald Trump has talked of victory after reaching a weekend deal with China to reduce the sky-high tariffs levied on each others’ goods, businesses in China are reacting to the temporary deal with a cautious wait and see approach.

Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday. The United States is dropping the extra tariffs it imposed on China this year to 30% from 145%,

China has taken a big step that could help cool down the long-running trade fight with the United States. The Chinese government has started telling its airlines they can begin buying American-made Boeing airplanes again.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

The responsibility of tackling the fentanyl issue in the United States lies within the U.S. itself, China's foreign ministry said on Tuesday, rejecting the punitive tariffs Washington imposed on Beijing for not stemming the inflow.