Tariff rates on small packages from China will be cut in half, though a flat-fee option will not change, the White House said Monday. Why it matters: Trump previously ended a loophole that allowed low-value goods into the country tariff-free — the rate reversal will ease price pressures on customers of Chinese retailers like Shein and Temu.

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.”

White House press secretary Karoline Leavitt will brief reporters Friday afternoon, a day after President Trump announced the first major trade deal following last month’s sweeping tariff

It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”

President Donald Trump is "determined to continue with a "10% baseline tariff" against all countries despite his U.K. trade deal, the White House said.

Britain's FTSE was 100 flat on Tuesday after a rally fuelled by a U.S.-China trade truce, while fresh data revealed a cooling UK labour market that could influence the Bank of England's future rate decisions.

A deal with China is a relief to investors who worried tariffs as high as 145% would severely limit trade, raise prices and hurt the U.S. economy.