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.

China trade deal will cut Trump’s “reciprocal tariff” on Chinese goods from 125% to 10%, while Beijing will also do the same.

Wall Street opened higher on Monday after the US agreed to cut tariffs on Chinese goods to 30%, with China reducing its levies to 10%.