The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.

WASHINGTON (AP) — 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.

China criticized the trade agreement reached between the U.S. and the U.K. last week as it could potentially push Chinese products out of British supply chains.

The container shipping industry on Monday welcomed an agreement between the United States and China to temporarily slash punishing tariffs, saying it expected to be buoyed by a resulting recovery in bookings from China to the U.

Chinese leader Xi Jinping says "bullying" and "hegemonism" will only backfire, in a veiled reference to the United States just a day after a temporary truce was agreed in the trade war between the world's two largest economies.

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

The agreement is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the United States.

US economic outlook improves, inflation forecasts drop and recession odds fall after US-China trade deal to reduce the highest tariffs for 90 days.