The U.S. and China on Monday agreed to temporarily suspend most tariffs on each other’s goods in a move that shows a major thawing of trade tensions between the world’s two largest economies, CNBC  reported.

The trade agreement means that “reciprocal” tariffs between both countries will be cut from 125% to 10%. The U.S’ 20% duties on Chinese imports relating to fentanyl will remain in place, meaning total tariffs on China stand at 30%.

The breakthrough comes after U.S. and China trade representatives held high-stakes talks in Switzerland over the weekend.

“We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process,” U.S. Treasury Secretary Scott Bessent said in a news conference.

“We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%,” Bessent said.

The pause will begin Wednesday. Both China and the U.S. said they will continue discussions on economic and trade policy.

Since returning to the White House in January, U.S. President Donald Trump has launched a flurry of aggressive trade measures that jolted financial markets and watched up recession fears. The duties, which are assigned to narrow the U.S. trade deficit, hit China particularly hard. 

The Verge reported: The United States and China have mutually agreed to a 90-day reduction on tariffs implemented in April, while they continue to negotiate a final trade deal.

The deal was hashed out by US and Chinese officials in Geneva over the weekend, and will see the US reducing duties Trump has called “reciprocal tariffs” on Chinese imports from 145 percent to 30 percent, and China lowering tariffs on US goods to 10 percent, down from 125 percent. The reductions ammoniated to 115 percentage points on each side. 

In comments to reporters on Monday morning, Trump claimed the US “achieved a total reset with China,” while a statement from China’s Commerce Ministry said it hoped the US would stop its behavior of implementing unilateral tariff hikes.

ArsTechnica reported: The US and China agreed to lower tariffs by 115 percent for 90 days while they continue talks on a longer-term agreement, sending stock soaring on hopes that President Trump’s trade war won’t be as damaging to the two economies as previously feared.

“As part of a deal hammered out in Geneva over the weekend, the US will lower additional tariffs on Chinese goods to 30 percent from 145 percent and China will reduce its duties on US imports to 10 percent from 125 percent. China said it would ‘suspend or cancel’ non-tariff measures taken against the US, the Financial Times reported.

Trump recently appeared to make a deal, while China seemed content to wait for better terms. The White House today called the temporary deal “a historic trade win for the United States” that “demonstrates President Trump’s unparalleled expertise in securing deals that benefit the American people.

President Trump ripped former President Biden’s high-speed internet program Thursday, vowing to end what he called a “racist” and ‘illegal’ initiative, The Hill reported.

Trump said he spoke with Commerce Secretary Howard Lutnick, about the Biden-era Digital Equity Act, which allocated about $2.75 billion for programs that provide technology, including the internet, and skills for all Americans.

“We [Trump and Lutnick] agree that the Biden/Harris so-called ‘Digital Equality Act’ is totally UNCONSTITUTIONAL,” Trump write in a Truth Social post Thursday. “No more woke handouts based on race! The Digital Equity Program is a RACIST and ILLEGAL $2.5. BILLION DOLLAR giveaway. I am ending this IMMEDIATELY, and saving Taxpayers BILLIONS OF DOLLARS!”

Biden signed the Digital Equity Act into law in 2021 as part of a$1 trillion infrastructure package to further the former administration’s “internet for all” initiative. It set aside about $60 million for grants to states and territories to come up with ways to improve access to technology, along with another $2.5 billion to implement the plans.

The Trump administration has worked to roll back several diversity, equity, and inclusion programs. The internet for all program was intended to apply to a variety of groups. 

Gizmodo reported: In another unhinged social media rant, President Donald Trump once again demonstrated that words really don’t mean anything anymore.

This time, Trump directed his ire at a Biden-era program intended to bridge the digital divide. On Truth Social, Trump announced his intention to end the Digital Equality Act while labeling it as “racist” and “unconstitutional”.

In 2021, former president Joe Biden passed the Digital Equity Act as part of the Infrastructure Investment and Jobs Act. It provide $2.75 billion to establish three federal grant programs administrated by the National Telecommunications and Information Administration.

Per the agency, DEA’s aim is to ensure that everyone “has the skills, technology,  and capacity needed to reap the full benefits of our digital economy.”  Think digital skills and workforce training, promoting high-speed internet access in rural and tribal areas, and improving accessibility for disabled people. 

In her statement, Patty Murray added, “It’s absolutely insane that resources meant to help red and blue communities – everyone from local school districts and libraries to workforce training programs and Tribes – close the digital divide will be illegally blocked because the President doesn’t like the word equity. Americans are sick and tired of extremist right-wing culture wars being forced down our throats.”

National Digital Inclusion Alliance reported: Today, President Trump shared a statement on Truth Social proclaiming the Digital Equity Act to be unconstitutional and therefore has determined to end the program immediately. 

Calling the Digital Equity Act unconstitutional is not only incorrect – it hurts millions of Americans who need digital navigation support and home internet to find jobs, access healthcare, and compete in today’s modern economy. 

The Digital Equity Act was not an executive order issued at the whim of one individual. It passed with overwhelming bipartisan support in Congress to help close the digital divide in rural, urban, and Tribal communities. 56 states and territories are counting on the fund to implement essential programs across their states, and their work is already underway.