The Trump administration agreed after talks this weekend in Switzerland to pare back its 145% in tariffs charged on imports from China to 30%. The Chinese government chose to reduce its retaliatory import taxes on U.S. goods from 125% to 10% while the sides continue to negotiate.

President Trump’s triple-digit tariffs on Chinese products disrupted global trade — but haven’t appeared to result in major concessions from Beijing.

Monday's announcement of a temporary reduction in import tariffs is only the latest chapter in a nearly eight-year trade dispute that began during President Donald Trump's first term. The agreement, which followed discussions between American and Chinese representatives in Geneva,