The agreement was cheered in Beijing as vindication for Xi Jinping and his defiant response to President Trump’s trade war.

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

Businesses are rushing to import Chinese goods after the U.S. struck a temporary deal. This "stop-go" nature of trade could still mean higher prices and doesn't ease uncertainty, an economist warns.

In its first concrete steps since Trump ratcheted up tariffs, Beijing stuck to its incremental approach to addressing economic pain.

U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145 percent tariff rate on Chinese goods to 30 percent.

Stock markets rose sharply as the globe’s two major economic powers took a step back from a clash that has unsettled the global economy. Economists warned that tariffs still remained higher than

We will do our best to keep our prices as low as possible,” Walmart’s CEO said. But ultimately, shoppers may end up paying the price.

Trump has repeatedly claimed foreign nations will cover the tariffs, but Walmart has already started to raise prices in response to Trump's tariffs.

China hit back at four major economies—the United States, the European Union, Japan, and Taiwan—on Sunday by imposing steep anti-dumping tariffs on POM copolymers, a type of engineering plastic used in everything from electronics and auto parts to medical equipment.