Chinese and American negotiators have agreed on tariff reduction and given a sense of relief to all in the industry circles over the past few days.

Both parties gave a joint press statement on Monday that a 90-day window would be observed for more time to reach a concrete agreement.

It will be recall,both countries sent shock waves around the world recently,shortly after Donald Trump was sworn in as president of the United States,both countries announced 3-digit tariffs on goods coming from each other country.

But following two days of trade talks in Geneva, Switzerland, things began to look positive as an agreement to let things simmer down was reached, and global markets began to respond positively to the news as a positive sign to unfreeze global trade relationships and stock markets around the world began to pickup again.