US, China pausing most steep tariff hikes for 90 days
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US, China pausing most steep tariff hikes for 90 days
(The Hill) — The United States and China said Monday that they agreed to a 90-day pause on most retaliatory tariffs imposed on each other since early April, when President Donald Trump announced his sweeping global tariff plan and ratcheted up his trade war with China.The world’s two largest economies issued a joint statement in which they pledged to continue working toward a lasting trade deal while reducing tariffs in the meantime.Stock market futures jumped following news of the agreement.Under the agreement, the U.S. would lower its tariff rate on Chinese imports from 145 percent to 30 percent, while China ..