The United States and China have agreed to temporarily pull back most tariffs for negotiations.

• US and China agree to roll back most of their recent tariffs and call a 90-day truce in their trade war.

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

• China’s Commerce Ministry announced the agreement to cancel 91% in tariffs on each other’s goods and suspend another 24% for 90 days, bringing the total reduction to 115 percentage points.

• The agreement is seen as an important step for resolving the two countries’ differences and laying the foundation for further cooperation.

• Both sides have set up consultations to continue discussing their trade issues.