China, US To Lift Sweeping Tariffs In Trade War Climbdown

Under Monday's deal, the United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent -- down by over 100 percentage points (Credit: AFP)

The United States and China will lift sweeping tariffs on each others' goods for 90 days on Wednesday, after a temporary ceasefire in a brutal trade war that roiled global markets and international supply chains.

Washington and Beijing had agreed to drastically lower skyhigh tariffs in a deal that emerged from pivotal talks at the weekend in Geneva.