The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

A Fox Business senior correspondent set the record straight on President Donald Trump’s tariff war with China.

Trade deals are driving the recovery for U.S. stocks with the S&P 500 erasing all of its losses post Liberation Day. President Trump continues his Middle East trip striking partnerships and investments,

The U.S. and China agreed to lower tariffs for 90 days. The details: U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent. Meanwhile, China’s blanket tariffs on U.S. products will drop to 10 percent from 125 percent. A few tariffs will remain. President Donald Trump signed an order to lower prescription drug prices.

The weekend deal adds to the sense that President Donald Trump may be backing off some of the more stringent trade tariffs.

President Donald Trump says he will likely speak with China’s leader Xi Jinping “maybe at the end of the week.”