The U.S. will drop its tariffs to 30% (due to the 20% “fentanyl tariffs”), and China will drop its tariffs to 10%. The market has rallied as expected, and many tariff-prone stocks that would’ve otherwise been crushed in a long-term trade war have seen their stocks soar.

President Donald Trump’s agreement with China to temporarily slash tariffs for 90 days offered the world a bit of welcome relief

The U.S. and China announced today that they were temporarily reducing the triple-digit tariffs that had shaken the global economy. For the next 90 days, imports from China are set to face a minimum fee of 30 percent,