Tariff rates on small packages from China will be cut in half, though a flat-fee option will not change, the White House said Monday. Why it matters: Trump previously ended a loophole that allowed low-value goods into the country tariff-free — the rate reversal will ease price pressures on customers of Chinese retailers like Shein and Temu.

After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”

White House press secretary Karoline Leavitt will brief reporters Friday afternoon, a day after President Trump announced the first major trade deal following last month’s sweeping tariff

The White House on Sunday published details of what could be a historic trade deal with China, the world’s No. 2 economy, after President Donald Trump imposed a series of crippling tariffs aimed at resetting economic conditions between both nations.

It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”

President Donald Trump is "determined to continue with a "10% baseline tariff" against all countries despite his U.K. trade deal, the White House said.

The United States will cut the low value "de minimis" tariff on China shipments, a White House executive order said on Monday, further de-escalating a potentially damaging trade war between the world's two largest economies,

A deal with China is a relief to investors who worried tariffs as high as 145% would severely limit trade, raise prices and hurt the U.S. economy.