As the U.S. and China negotiate a trade deal, Trump has lowered a levy on “de minimis” low-value packages, such as online shopping from Shein or Temu.

President Donald Trump's trade war truce with China still leaves a hefty 30% tariff in place, at least for the time being, but the deal improves the outlook for the economy.

The Trump administration has made moves to ease tariff tensions with China but new reports indicate that prices, including for cars, are on the rise.

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

New agreement sees reciprocal US-China tariffs drop from 125% to 10% for 90 days, with final US tariff rate on China lowered to 30%

China is facing the steepest tariff rate from Trump’s administration. While other countries were granted a 90-day reprieve from so-called reciprocal tariffs last month, excluding a baseline 10% flat rate, the president raised China’s tariff rate to 145%.

The White House says the U.S. and China have agreed to suspend for 90 days most of the tariffs imposed against each other over the last couple months.

JPMorgan reduced its forecast for the chance of a recession this year after the U.S. and China temporarily lowered the higher tariffs they imposed.

Insiders said the 50%-to-54% range is in keeping with rates that were discussed last month when President Trump met with the bosses of the three biggest retailers in the US.

As tariffs on Chinese goods decrease temporarily, the overall effective tariff rate on U.S. consumers remains the highest since 1934, at 17.8%.

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.