U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

The announcement marks a move to ease the tariff war, which has triggered a sharp decline in transpacific trade. The move also sent Chinese stocks soaring and Dow futures surging

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.