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. The United States is dropping the extra tariffs it imposed on China this year to 30% from 145%,

The first round of the Trump tariffs, which still mimicked traditional trade wars, involved mainly Canada, Mexico and China. The second round began with "reciprocal tariffs," which rely on flawed methodologies and mistaken calculations, covering most trading economies worldwide. Then came the huge U. S. retaliatory tariffs, which China countered.

President Trump on Saturday suggested a “total reset” in U.S.-China trade relations amid reported talks over tariffs in Switzerland between the two countries. “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to.

The crew engaging with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer was on public display for the first time Sunday.

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,

The U.S. is "smearing and shifting blame onto China" over the fentanyl issue, a spokesman for the Chinese foreign ministry said, after the Trump Administration had hailed the progress made with Beijing on the crisis at trade talks in Geneva.

The U.S. and China on Monday announced that they would substantially lower tariffs for 90 days. The agreement was struck over the weekend in Switzerland.