President Donald Trump's tariffs on Chinese imports, which reached 145% in April, prompted waves of U.S. customers to suspend or delay orders for festive decorations, disrupting business for the likes of Lou Xiaobo, whose company Xubo relies on the U.S. for 20% of sales.

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

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.

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

President Trump's wish for a rate cut may be looking more realistic as economic uncertainty clears—but it still won't be happening any time soon.

JPMorgan reduced its forecast for the chance of a recession this year after the United States and China temporarily lowered the higher tariffs they imposed.