Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

China has removed its ban on airlines accepting Boeing planes after Beijing and Washington agreed to temporarily reduce the steep tariffs on one another.

Boeing got a double dose of good news Tuesday as the global trade landscape shifted sharply in the company's favor. The big picture: A critical manufacturer for U.S. exports, Boeing has been dealing with a series of challenges in recent years,