Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.

GENEVA — The United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.

U.S. Trade Secretary Scott Bessent said neither the U.S. nor China want to see a decoupling in their relationship, as each agreed to lower tariffs for 90 days.

U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

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

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.

Treasury Secretary Scott Bessent gives "The Ingraham Angle" an update on trade negotiations with China and their next talks with Chinese counterparts.

Former Treasury Secretary Larry Summers praised Scott Bessent, who currently serves in that role under President Donald Trump’s administration, for successfully negotiating a trade deal with China. While appearing on CNN’s “The Arena” with Kasie Hunt,