Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change.
The United States and China said in a joint statement that it will cut tariffs on Chinese goods to 30% from as high as 145%. China, meanwhile, said its tariffs on U.S. goods will fall to 10% from 125%. The 90-day pause gives time for more talks following the weekend’s negotiations in Geneva, Switzerland, which the U.S. side said yielded “ substantial progress.”
