The Chinese government announced a 90-day suspension of additional tariffs and a reduction in the rate of additional tariffs jointly with the US on Monday. China will suspend the imposition of 24% of the 34% additional tariffs on imports from the U.S. for 90 days and set the imposition rate at 10%. The additional tariffs, which were raised from 34% to 125% as a countermeasure to the additional tariffs by the US, will be rescinded. This measure will be taken by Wednesday.