U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day pause to keep talking to resolve their trade disputes.
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00:00We have reached an agreement on a 90-day pause and substantially moved down the tariff levels.
00:19Both sides on the reciprocal tariffs will move their tariffs down 115 percent.
00:26Today, with this agreement, we come to agreement that our reciprocal tariff rate will go down to 10 percent on the United States side, so it goes down 115 percent.
00:40We enter into a 90-day pause period for negotiations, which both the Chinese and the United States are very committed to,
00:46and the Chinese on their side also go down 115 percent to 10 percent, and they remove the countermeasures that they have in place.