U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

The United States and China reached a trade deal early Monday, ending a monthslong tariff standoff that worried global markets. The new deal will reduce U.S. tariffs on Chinese imports from 145% to 30% and decrease China’s tariffs on American imports from 125% to 10% for 90 days.

U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145 percent tariff rate on Chinese goods to 30 percent.