From www.cnbc.com: The U.S. and China agreed to suspend most tariffs on each other’s goods for 90 days, reducing reciprocal tariffs from 125% to 10%, while maintaining a 20% tariff on select Chinese fentanyl imports.

This agreement follows high-level discussions in Switzerland, during which U.S. Treasury Secretary Scott Bessent described the talks as productive.

Financial markets reacted positively, with significant gains in stock futures and oil prices following the announcement.