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Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.

Trump’s escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.

Senior U.S. and Chinese officials met again on Sunday in Geneva, two sources familiar with the situation told Reuters, to resume weekend talks aimed at cooling the trade war that threatens to seriously damage the global economy.

TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump’s trade war, presenting a united front with Latin American leaders a day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate.

"We're confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency," Jamieson Greer said.

Trade talks in Geneva between the United States and China have ended for the night but will continue on Sunday, a source familiar with the matter told Reuters.

President Donald Trump touted trade negotiations with China in Switzerland Saturday, noting "many things" were discussed and "much [was] agreed to."

President Trump on Saturday suggested a “total reset” in U.S.-China trade relations amid reported talks over tariffs in Switzerland between the two countries. “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to.

The U.S. treasury secretary and America’s top trade negotiator began talks with high-ranking Chinese officials in Switzerland Saturday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy.

U.S. Trade Representative Jamieson Greer spoke Monday night with CNN's Kaitlan Collins, who asked: "If there were no major concessions made in Geneva by the Chinese officials, some businesses may ask,