On Saturday, senior officials from Washington and Beijing concluded the first day of trade talks in Geneva, Switzerland. The president has been embroiled in a tense trade war since he raised U.S. tariffs on China to a combined 145 percent earlier this year, which prompted Beijing to retaliate with a 125-percent levy on American imports.

The United States has reached a preliminary trade deal with China after the two countries met for negotiations in Switzerland over the weekend, the Trump administration announced. The news follows Treasury Secretary Scott Bessent and U.

With just two months left on his 90-day tariff pause, Trump struck a deal with the UK. Other trade deals remain up in the air.

Following trade talks in Geneva, the US and China agreed to pause reciprocal tariffs for 90 days. President Trump called it a “total reset”, noting improved relations and ongoing discussions to address long-term trade concerns.

President Trump said late Saturday that U.S. and Chinese officials had negotiated a "total reset" in their trade relationship during talks in Switzerland. Why it matters: An actual reset — with sharply lower tariffs or none at all — would be the relief businesses and investors have been praying for from a trade war that has already significantly damaged the economy.

Some small businesses face higher costs because of tariffs, but SBA Administrator Kelly Loeffler says deals are coming.

U.S. President Donald Trump could have the upper hand in subsequent trade talks with China as the nations hammer out further negotiations, according to Neo Wang, lead China economist and strategist at Evercore ISI.

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.