US agrees to drop 145% tariff on China to 30% while they negotiate

The U.S. and China said they had agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month, a major step toward easing a trade war between the two powers that has rattled the global economy. According to a joint statement from the two countries:

→ U.S. tariffs on Chinese imports will be cut to 30% from 145%

→ China’s tariffs on U.S. imports will be cut to 10% from 120%