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.

The Trump Administration agreed on a pause in its tariffs war with China over the weekend. For the next 90 days at least, China will lower tariffs on imported U.S. goods to 10%, and the U.S. will cut tariffs on imported Chinese goods to 30%.