The U.S. and China announced an agreement to cut reciprocal tariffs.

This agreement is for a 90-day period.

As part of the agreement, both sides will reduce their reciprocal tariff rate to 10%. China also agreed to remove countermeasures.

The changes came into force on Wednesday.

The agreement aims to establish a basis for negotiations in a broader potential trade deal.

The two sides plan to establish a mechanism to continue discussions on economic and trade relations.

The announcement followed two days of talks in Geneva, Switzerland.

President Donald Trump was greeted with spectacular fanfare in Saudi Arabia, Qatar, and the United Arab Emirates.

The visit showcased the region's opulence and how much wealth they are willing to spend to deepen U.S. ties.

Historic economic exchange and investment pledges totaling trillions of dollars were announced, including commitments from Qatar, Saudi Arabia, and the UAE.

These commitments included Qatar's $1.2 trillion "economic exchange," Saudi Arabia's promised $600 billion investment, and the UAE's $1.4 trillion investment framework.

The clear message from the Gulf states was their desire to be first in line for partnerships with the U.S. in business, military, or tech.

Securing access to advanced technologies, such as Nvidia chips, appears to be a primary motive for the GCC countries.

The warm reception and "bromance vibes" showed a stark difference in tone from visits by officials from the Biden administration.

Some doubt exists regarding the realism and long-term viability of the massive investment numbers pledged.