The United States and China agreed to temporarily lower tariffs on goods from the other country, the two sides said in a joint statement on Monday. Washington agreed to cut duties on Chinese goods from 145% to 30% for 90 days, while Beijing agreed to lower levies from 125% to 10% during the pause. “After taking the aforementioned actions, the Parties will establish a mechanism to continue discussions about economic and trade relations,” the US and China stated.