The U.S. and China have agreed to a 90-day reduction in tariffs to allow further trade negotiations, marking the first high-level dialogue between the two countries since April. Under the agreement, both nations will lower reciprocal tariffs from 125% to 10%, though a 20% U.S. tariff tied to China’s role in the fentanyl crisis remains, leaving Chinese imports with a minimum 30% tariff. China also pledged to lift non-tariff barriers imposed since April 2.