President Donald Trump's trade war truce with China still leaves a hefty 30% tariff in place, at least for the time being, but the deal improves the outlook for the economy.

The U.S. and China announced on Monday that tariffs against one another will be reduced for an initial 90-day period after officials held trade negotiations in Geneva.

U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.