Beijing and the U.S. have agreed to expand agricultural trade through tariff reductions, China's commerce ministry said.

China and the U.S. have reached a tentative agreement to lower tariffs and ease non-tariff barriers during recent high-level talks and a summit in Beijing, a spokesperson for the Chinese Ministry of Commerce said in a statement on Saturday.

China Says Preliminary Deal Reached to Cut Tariffs

Over a year ago, President Trump started imposing tariffs on China as part of “Liberation Day”. There was a back-and-forth escalation and at one point the tariffs on China peaked at 145%. A truce was eventually declared and the temperature on the tariff war cooled,

Washington is signaling renewed engagement with Beijing, and investors are trying to figure out which stocks would benefit if tariffs ease, export controls loosen, and Chinese consumer demand stabilizes.

As President Trump prepares to meet with Xi Jinping, a trade war that once threatened to freeze commerce between the two countries has given way to an uneasy truce.

A China policy giving Africa’s biggest economies tariff-free access to its market for the next two years has come into effect.

China will impose additional tariffs ranging from 25 percent to 100 percent on certain imports from Canada starting on March 20, the Customs Tariff Commission of the State Council announced on Saturday.

CEO Tim Cook was one of a handful of U.S. executives to participate in the Trump administration's delegation to Beijing this week. It was a potentially high-stakes trip to China, the first by a sitting U.