JPMorgan is walking back its 60% recession prediction for 2025 following the 90-day pause on trade tariffs agreed by China and the US.

The Trump administration drops the tariff rate on packages from China valued at under $800 from 120% to 54%, but that's still pretty high for a Shein haul.

The stock markets are soaring, but will President Donald Trump also enjoy a political payoff in public opinion polling in the wake of a tariff truce with China?

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

A White House executive order said on Monday that the U.S. would cut the "de minimis" tariff on China shipments to 54% from 120%, with a flat fee of $100 to remain starting from May 14.