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The U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.   

China is suspending a trade and investment ban against more than a dozen U.S. companies as part of the trade agreement struck by the world’s two biggest economies.

Online U.S. shoppers 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 tariffs.

House Republicans have proposed using their tax and spending bill to end duty-free imports of cheap foreign goods, a perk companies have used to grow their U.S. business for the past decade.

It may only be a 90-day reprieve from the steepest of President Donald Trump’s China tariffs, but it’s enough time to entice companies to restart factory operations and start shipping.

American businesses that rely on Chinese goods reacted with muted relief May 12 after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days.

Rodolphe Saade, CEO of CMA CGM SA, hailed a truce in the trade war between Washington and Beijing.

The U.S. collected a record amount of revenue from tariffs in April, helping to limit a further widening of the budget deficit.

U.S. and Chinese officials said May 12 they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks.

China’s exports to the U.S. tumbled in April while its trade with other economies surged, suggesting that tariffs are hastening a shakeup in global supply chains.