“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” Bessent told reporters, adding that “the talks were productive.”

the U.S. would cut the "de minimis" tariff on China shipments to 54% from 120%

America has agreed to cut the “reciprocal” tariffs it imposed on China last month from 125% to a more digestible 10% for at least 90 days.