The U.S. and China agreed to lower tariffs for 90 days. The details: U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent. Meanwhile, China’s blanket tariffs on U.S. products will drop to 10 percent from 125 percent. A few tariffs will remain. President Donald Trump signed an order to lower prescription drug prices.

Diplomats with the European Union are still waiting for in-depth negotiations to begin. And it's unclear how quickly a substantive agreement with China could be reached.

The weekend deal adds to the sense that President Donald Trump may be backing off some of the more stringent trade tariffs.