China will reduce tariffs on American goods from 125% to 10% for 90 days.

In turn, the USA will reduce tariffs on Chinese goods from 145% to 30% for 90 days. The new tariffs include a base rate of 10% and an additional 20% as a surcharge for the fentanyl problem.

Crypto, oil, the American stock market, S&P 500 and Nasdaq, the Hong Kong stock market are responding with growth.