China and the U.S. eventually reached a truce, which resulted in substantially lower tariff rates, and the two countries have been engaged in negotiations since. U.S. tariffs on China will remain at 30 percent until November, when the new 90-day deadline expires, Trump said in an executive order.

China has received relief from the Trump-era tariffs, a move that could significantly impact global trade and economic relations. Market expert Ajay Bagga believes that reduced tariffs on Chinese goods will lower costs for US companies,