Now, everything is up in the air again following a breakthrough in U.S.-China trade talks that resulted in a 90-day reprieve from the astoundingly high tariffs on China, leaving a base 30% import tax rate for made-in-China products.

Treasury Secretary Scott Bessent told reporters the two sides had agreed on a 90 day pause on measures and that tariffs would come down by over 100 percentage points to 10%.

U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.