The 145 percent U.S. tariff on Chinese goods will come down to 30 percent for 90 days, while the two sides continue talks aimed at resolving their differences.

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday.

President Donald Trump's trade war truce with China still leaves a hefty 30% tariff in place, at least for the time being, but the deal improves the outlook for the economy.