After days of high-level negotiations, the trade standoff between the United States and China temporarily paused on Wednesday, with two of the world's largest economies slashing sweeping tariffs on each others' goods for 90 days.

Treasury Secretary Scott Bessent said the US and China had agreed a 90-day pause and to "substantially" reduce tariff levels following talks in Geneva.

Low-cost packages imported to the United States by China that were historically exempted from paying dues have been provided some relief from steep tariffs the Trump administration placed on Beijing.