After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

Small packages from China are still subject to tariffs of 120%, a White House official confirmed Monday — a major blow for U.S. consumers seeking cheap goods from e-commerce retailers like Shein and Temu.

The White House on Sunday published details of what could be a historic trade deal with China, the world’s No. 2 economy, after President Donald Trump imposed a series of crippling tariffs aimed at resetting economic conditions between both nations.

The White House has issued a statement saying the U.S. announced a China trade deal after the conclusion of talks between the U.S. and Chinese delegations in Switzerland on Sunday. But it wasn't immediately clear whether a deal had actually materialized.

The United States and China made “substantial progress” in trade talks over the weekend, Treasury Secretary Scott Bessent said Sunday, after representatives from the two countries met amid an escalating trade war. The White House claimed in a news ...