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slash donate and thank you. Tariffs have fallen, but is the trade war over? Good morning. This is

the Marketplace Morning Report,

and we're live from the BBC World Service. I'm Leanna Byrne. So there's been a thaw. The US and China

have struck a temporary deal to ease their escalating trade war. Both sides sell cut tariffs by

115%. A big step, given the US was charging 145% on some Chinese goods.

The agreement only lasts 90 days though, so it's more of a pause than a full resolution.

The BBC's Mariko Oy is in Singapore and has been following this story. Hi, Mariko.

Hello. So what's been agreed?

It seems like quite a major de-escalation. So basically, the US has agreed to lower tariffs on all Chinese goods from the current 145% to 30%. And China will also cut its levies on US products to 10%. So basically, they have both agreed to cut levies by 115% for the next 90 days.

So basically, they're hoping to reach a trade deal within those three months

so that they don't have to keep fighting this tip-for-tat trade war.

Now, if you're in the US, how quickly would you feel any relief from this 90 days

pause? I think it might. I mean, you know, we'll just have to see how quickly customs can,

you know, get used to the new rules and so on, because if you remember when those tariffs were

announced, there was a bit of a delay in customs figuring out how to deal with all the shipping

and so on. After all those roller coaster ride extreme volatility that we saw in the stock market,

at least these agreements are definitely, you know, a side of relief. How have markets reacted?

The Chinese market, the Hong Kongese market, have reacted

positively, not surprisingly. You know, they were somewhat muted earlier in a day, even though we

knew that some kind of an agreement was reached, but we didn't know any of the details. And I think

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