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

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.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.

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 trade deal will cut Trump’s “reciprocal tariff” on Chinese goods from 125% to 10%, while Beijing will also do the same.

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.

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.

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.