The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

The U.S.-China trade war has gone through multiple rounds of tariffs and retaliatory measures. In a span of three months, the tax on products imported to the U.S. from China went from 10% in February to 145% in April.

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

Trade talks in Geneva between the United States and China have ended for the night but will continue on Sunday, a source familiar with the matter told Reuters.

U.S. stocks climbed Monday after Treasury Secretary Bessent touted substantial progress on talks with the Chinese setting up a busy week of trade talks as President Trump heads to the Middle East. In economic and earnings news,

Shares have logged modest gains in most world markets as the initial euphoria over the 90-day truce in the trade war between the United States and China fades

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday. The United States is dropping the extra tariffs it imposed on China this year to 30% from 145%,

David Gura, Anchor and Correspondent for Bloomberg News and Sam Stein, Managing Editor for The Bulwark joins Nicolle Wallace on Deadline White House to discuss the fallout from the 90 day pause on significant tariffs that was agreed to by the United States and China and how the unpredictability of the American President has given China a lane to persuade countries that used to be our reliable trading partners to work with President Xi.