The United States and China have agreed to extend their 90-day tariff pause, according to China’s Vice Minister of Commerce Li Chenggang. At the beginning of the week, US Commerce Secretary Howard Lutnick hinted that a truce was close, giving a boost to the stock market. The news will be welcome for big tech and companies with a heavy presence in China, such as Apple and Nvidia.

Li made the announcement during a briefing in Stockholm on Tuesday following trade talks between the US and China. During the briefing, Li described the talks as “candid” and “in-depth.” The Chinese official also stated that the two countries exchanged healthy views on macroeconomic issues during their talks. The US and China will reportedly continue to remain in close contact during the tariff pause to come to a permanent deal.

In addition, US President Trump has indicated positive China-US economic relations right now, which business groups have welcomed. He recently told reporters: “We are getting along well with China.” He also mentioned that President Xi has invited him to China, and he’s looking to make it happen “in the not-too-distant future.”

Also Read: Morgan Stanley Warns Dollar Bull Run Is Nearing Its End

Outside of China, Multiple framework agreements between the United States and other trading partners have jacked up tariffs on foreign goods imported to America while setting levies on US exports at or near zero. Overseas trading partners have agreed to open previously closed markets to some US goods, pledged increased investments in the United States, and dropped some of what the Trump administration has lambasted as non-trade barriers, like taxes on digital services. In Europe, there is still a feeling of uncertainty about the EU-US trade deal.

It remains uncertain how long the tariff deal pause is between the US and China

The United States and China have agreed to extend their 90-day tariff pause, according to China’s Vice Minister of Commerce Li Chenggang. At the beginning of the week, US Commerce Secretary Howard Lutnick hinted that a truce was close, giving a boost to the stock market. The news will be welcome for big tech and companies with a heavy presence in China, such as Apple and Nvidia.

Li made the announcement during a briefing in Stockholm on Tuesday following trade talks between the US and China. During the briefing, Li described the talks as “candid” and “in-depth.” The Chinese official also stated that the two countries exchanged healthy views on macroeconomic issues during their talks. The US and China will reportedly continue to remain in close contact during the tariff pause to come to a permanent deal.

In addition, US President Trump has indicated positive China-US economic relations right now, which business groups have welcomed. He recently told reporters: “We are getting along well with China.” He also mentioned that President Xi has invited him to China, and he’s looking to make it happen “in the not-too-distant future.”

Also Read: Morgan Stanley Warns Dollar Bull Run Is Nearing Its End

Outside of China, Multiple framework agreements between the United States and other trading partners have jacked up tariffs on foreign goods imported to America while setting levies on US exports at or near zero. Overseas trading partners have agreed to open previously closed markets to some US goods, pledged increased investments in the United States, and dropped some of what the Trump administration has lambasted as non-trade barriers, like taxes on digital services. In Europe, there is still a feeling of uncertainty about the EU-US trade deal.

It remains uncertain how long the tariff deal pause is between the US and China