On Monday, U.S. President Donald Trump announced that the U.S. and China will briefly pare back tariffs on most goods, stating that China agreed to open up its market to U.S. companies during trade negotiations. According to a White House statement, both sides agreed to eliminate certain non-tariff trade barriers. Related NewsInflation Rate YoY for Apr in China is -0.1%, unchanged from its last period. The forecast was -0.1%.Trump did not disclose specific details, noting that the parties are still discussing how to formalize the negotiation outcomes in an agreement, while describing the results as potentially the most paramount achievement of the talks.