Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

President Donald Trump’s agreement with China to temporarily slash tariffs for 90 days offered the world a bit of welcome relief

The Trump administration and China have agreed to slash tariffs for the next 90 days in a push to deescalate a trade war between the two countries.

In fiscal 2025, the company expects its revenue mix with businesses headquartered in mainland China and Hong Kong to be approximately "mid-teens percent" of its worldwide revenue. Micron has a 14.9% net margin, so tariffs would’ve caused hundreds of millions in lost earnings.

Dow stocks soared over 1,100 points after the U.S. and China announced they would lower tariffs for 90 days. Meanwhile, President Trump defended his move to accept a potential offer from Qatar to provide a new Air Force One jet.

Markets are “uttering a huge sigh of relief” after the two nations agreed to lower most tariffs for 90 days and signaled plans for continuing talks.