Jenna Moon
Pause in tariffs as US and China set to continue negotiations
Following months of back-and-forth tariff escalation, US and Chinese officials announced this morning that they would reduce levies on each other's goods for 90 days and start a new round of trade negotiations.
Both sides are set to slash tariffs by 115% starting from Wednesday - with US tariffs on Chinese products falling to 30% and China's reciprocal tariffs on the US falling to 10%. You can read more about the deal in our earlier post.
The announcement gave global stock markets a boost, with US markets in particular seeing a significant surge. This follows major losses after Trump's initial "Liberation Day" tariff announcement last month.
Our New York Business Correspondent Natalie Sherman reports that the share prices for companies bringing goods from China are, unsurprisingly, going up.
Later in the day, Trump struck a triumphant tone in a statement from the White House, during which he said his administration had achieved a "total reset with China".
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