China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.

Negotiators from both sides have agreed to establish a dialogue mechanism for further talks, and US President Donald Trump says he will speak to his Chinese counterpart Xi Jinping soon.

The tech industry is breathing a sigh of relief after the U.S. and China agreed to substantially lower tariffs, underscoring the prospect of de-escalation in a trade war that has been particularly

Broadcom (NASDAQ: AVGO) has been treated as the “new Nvidia” in recent years, but things didn’t go so well as broader macro troubles dragged it down by over 41% from its peak. However, AVGO stock rallied back in earnest after tariffs started being paused and deals were made. It has since bounced back by 51.5% from its trough in April.

Soybean export premiums fell in Brazil on the de-escalation, reflecting expectations that China could buy more from the U.S.In the lead-up to the 2020 election, all eyes are on Iowa. Get updates of all things Iowa politics delivered to your inbox.

Progress on US-China trade over the weekend sent stocks soaring on Monday. Some top commentators say tariffs are still a big risk.

The 90-day tariff truce between the US and China is expected to increase shipments and production over the next three months.

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,

The new US-China trade truce has eased some of the pressure on global markets, but its impact on companies like Boeing highlights how disruptive the

Industrial metals, including copper and iron ore, saw positive price movements following an agreement between the US and China to temporarily reduce tariffs on each other's imports.

A spokesperson for China's Commerce Ministry said on Monday that the high-level economic and trade talks between China and the US have achieved substantial progress, resulting in a major reduction in bilateral tariffs.