The U.S. and China have made a significant move by agreeing to reduce tariffs on each other’s imports for an initial period of 90 days. This unexpected decision marks a crucial breakthrough in the ongoing trade tensions between the two powerhouse economies. CNBC’s Julianna Tatelbaum shared this exciting news on ‘Squawk Box’. This agreement aims to de-escalate trade disputes and foster cooperation, which could pave the way for smoother relations moving forward. Stakeholders in both countries are optimistic about the potential positive impact on their respective economies and markets.