The US and China have agreed to put most tariffs on pause for 90 days, marking a major deescalation in a trade tit-for-tat that has roiled global markets. Treasury Secretary Scott Bessent, who led weekend trade talks for the US delegation,

Donald Trump's second term economic plan can be summed up in one word: tariffs. When his barrage of these import taxes went into overdrive a month ago, markets trembled and business leaders sounded alarms about the economic damage they would cause.

The United States and China announced that they have agreed to temporarily lower tariffs, after a weekend of marathon negotiations in Geneva, Switzerland. CNN’s Kristie Lu Stout breaks down what we know about the agreement.