The temporary lifting of triple-digit trade levies between China and the U.S. while trade talks get under way removes the threat of an immediate stagflationary hit to the economy. This is very good news.

Over the weekend, both the U.S. and China agreed to reciprocally slash tariffs on each other for 90 days from 125% to 10% — much more than expected.

President Trump and Treasury Secretary Scott Bessent have both said numerous trade agreements could come as soon as this week.