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.

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

25% tariffs on imports from Canada and Mexico not covered under the 2018 USMCA trade agreement brokered during Trump's first term. The deal covers roughly half of all imports from Canada and about a third of those from Mexico, so the rest are subject to the new tariffs. Energy imports not covered by USMCA only will be taxed at 10%.