Beginning Wednesday, shipments arriving in the United States from China and Hong Kong worth less than $800 could face 54 percent tariffs.

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.

Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty. Trump launched a trade war during his first term as well,

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

The 90-day pause is a major de-escalation in the tariff war and comes after talks between both countries in Geneva.

The United States and China announced that tariffs against one another will be reduced for an initial 90-day period following trade talks in Switzerland.

WASHINGTON (AP) — Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.