US, China pausing most steep tariff hikes for 90 days

The United States and China said Monday they agreed to a 90-day pause on most retaliatory tariffs imposed on each other since early April, when President Trump announced his sweeping global tariff plan and ratcheted up his trade war with China.

The world’s two largest economies issued a joint statement in which they pledged to continue working toward a lasting trade deal while reducing tariffs in the meantime.

Stock market futures jumped following news of the agreement.

Under the agreement...