The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

The new US-China trade truce has eased some of the pressure on global markets, but its impact on companies like Boeing highlights how disruptive the

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

High-level talks between the United States and China have begun in Geneva, Switzerland, Chinese state media reported on Saturday, in a possible thaw in the trade war sparked by President Donald Trump’s massive tariffs.

In a surprising turn, the US and China have agreed to de-escalate their trade war, with the US significantly reducing tariffs on Chinese goods. Beijing responded by lowering its tariffs on US products.