The world’s two biggest economies agreed to a 90-day pause on most of their levies after a first round of trade talks in Switzerland over the weekend.

The United States and China said Monday they have agreed a deal to slash reciprocal tariffs as the world's two biggest economies seek to end a trade war that has put financial markets on edge.

US Treasury Secretary Scott Bessent says both countries will lower their reciprocal tariffs by 115% for 90 days.