Yesterday (12th), China and the US announced that they agreed to slash tariffs for 90 days, according to foreign media. China had agreed to abolish non-tariff barriers to US imports, suggesting that China may be willing to relax regulations such as access to China's market for foreign companies and export restrictions, US President Donald Trump last said.Related NewsM Stanley: US-CN Trade Talks Achieve Substantial Progress, Positive Catalyst for CN Mkt in Near TermThe US and China recognize that the negotiations ahead will only get more complicated as it will take time to paper it, which will not be an easy task, Trump added. Trump also said that he would speak with Chinese President Xi Jinping, possibly by the end of the week.Both China and the US should sort the world's most important bilateral relationship out with a longer-term vision and a broader mindset for the fundamental well-being of the people of the two countries as well as for the overall interests of world peace and prosperity, the Xinhua News Agency published a commentary article saying. The talks is a positive development in China-US economic and trade relations and lays the foundation for further communication and negotiation.Related NewsImports YoY for Apr in China is 0.8%, higher than the previous value of -4.3%. The forecast was -5.9%.