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
RealAg Radio host Sean Haney outlines the Trump Administration’s current trade priorities and what meaningful market expansion looks like for farmers.
USDA’s February WASDE report, analysts expect minimal price movement as grain stocks remain steady. Traders weigh renewed Chinese soybean purchases, South American weather, acreage shifts, and upcoming USMCA trade talks.
Rebuilding domestic textiles depends on automation and vertical integration, not tariffs or legacy manufacturing models.
The U.S. trade deal with Argentina creates new export opportunities for U.S. livestock and crop producers but also raises competitive concerns.
Incremental trade clarity with India could support select U.S. ag exports, but major gains hinge on future market-access talks.
The phone call injected optimism into the soybean market, but actual Chinese buying and its timing will ultimately determine the extent of U.S. agricultural export benefits.

LATEST STORIES BY THIS AUTHOR:

Jarrod Hardke with the University of Arkansas break down extreme drought conditions, shifting planting decisions, and the impact of rising input costs on Arkansas agriculture this season.
Oklahoma livestock economist Dr. Derrell Peel helps us break down the April Cattle-on-Feed report and what it signals for herd rebuilding, supplies and prices moving forward.
Tariff refunds are underway, potentially returning billions to importers, as agriculture groups push for a larger role in trade policy and investigations.
Patrick De Haan with GasBuddy joined us to discuss diesel price volatility and what farmers can expect as geopolitical tensions continue to impact energy markets.
Farm programs remain small but politically easier to expand.
Pat Hord with the National Pork Producers Council joined us to recap producer meetings in Washington and discuss key policy priorities including Prop 12 and agricultural labor.