The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

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 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.

Container shipments from China to the US tripled in early May following a decision by Washington and Beijing to suspend tariff hikes during negotiations in Geneva, according to data released Thursday by container tracking platform Vizion.

The prospects for a major breakthrough still appear slight, but even a small drop in tariffs — particularly if taken simultaneously — could help restore some confidence.

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.

The first round of the Trump tariffs, which still mimicked traditional trade wars, involved mainly Canada, Mexico and China. The second round began with "reciprocal tariffs," which rely on flawed methodologies and mistaken calculations, covering most trading economies worldwide. Then came the huge U. S. retaliatory tariffs, which China countered.

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.