The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.

Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.

Trump increases tariffs on all Chinese imports by 10 percent. China retaliates with 10 to 15 percent tariffs on U.S. coal and liquefied natural gas products, as well as agricultural equipment. Trump also announces a 25-percent tariff on all steel and aluminum products coming into the U.S., which comes into effect in mid-March.

CBIZ Inc., a Cleveland-based financial and business advisory firm, has launched a new service to help businesses navigate the changing rules around tariffs and trade. The CBIZ Tariff Solution, announced Tuesday,

"When Chinese customers feel that the prices are close to the bottom, they will start talking. When that will be, that's a very good question," he added, noting that recent news on talks between the U.S. and China had made futures markets jump.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,