US, China Agree to Reduce Tariff Rates for 90 Days

During the pause, the U.S. will instead charge a 10% tariff on imports from China while maintaining duties it installed prior to April 2, including those enacted under Section 301, Section 232 and the International Emergency Economic Powers Act. In return, China will also pause a matching 34% tariff on U.S. goods for 90 days in favor of a 10% duty while rescinding all other levies it has enacted on the U.S. since April 2. Read more here.