The lead U.S. negotiator in trade talks with China cheered “a great deal of productivity” in resolving differences between the world’s two leading economic powers, after officials wrapped two days of bargaining in Switzerland following President

The U.S. has agreed to drop its 145% tariff rate on Chinese goods to 30%, while China has agreed to lower its rate on U.S. goods to 10%.

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.