Tariff Truce: U.S. and China agree to reduce tariffs for 90 days

China will reduce its tariffs from 125% to 10%. In return, the U.S. will lower tariffs on most Chinese goods from 145% to 30%.

Both the U.S. and China have announced a temporary pause in tariffs for the next 90 days, and the deal is moving markets.

The announcement comes after a weekend of meetings in Switzerland, the Treasury Secretary, and the U.S. Trade Representative. China will reduce its tariffs from 125 percent to 10 percent. In return, the U.S. will lower tariffs on most Chinese goods from 145 percent to 30 percent.

The DOW, S&P, and NASDAQ futures are all up significantly this morning.

Related Stories
China’s sustainable jet fuel exports are growing, which could increase demand for renewable feedstocks such as used cooking oil.
Strong export demand is expected to keep grain moving by rail despite a smaller corn crop.
China has purchased about 12.5 million metric tons of U.S. soybeans as Trump and Xi prepare to meet, bringing it close to half of its annual commitment.
U.S. soybean transportation costs to China climbed 12% from a year earlier.

LATEST STORIES BY THIS AUTHOR:

Stronger finished-lumber prices have yet to translate into broad gains for timber owners.
Paraguay could gain additional U.S. market access through a temporary tariff-free quota.
American dairy producers are no longer subject to Environmental, Social, and Governance (ESG) overregulation.
New systems are moving beyond data analysis to make real-time decisions directly on farm equipment.
New data tool brings modern, streamlined data access to producers nationwide
Santa Teresa livestock port reopens September 24, restoring another cattle trade route from Mexico while maintaining new safeguards against New World screwworm.