Hello and welcome to World Business Report from the BBC World Service.
I'm Sam Fenwick.
Coming up today, China and the United States ease tariffs in a bid to calm trade tensions.
We hear from American and Chinese businesses about what the deal means on the ground and ask,
is it a real breakthrough or just a pause in economic rivalry?
This is basically taking us back to... quote-unquote liberation day.
It's still going to be tariffed and it's still going to raise prices at the end of the year,
but at least people are able to make plans around it.
We'll look at how the markets have been reacting and what could come next for global supply chains.
Plus, the UK government has unveiled a tougher immigration policy,
scrapping care worker visas and raising the bar for skilled workers.
We'll speak to a care home operator in the northeast of England and ask whether Britain can really afford to close the doors to these workers.
But first, after two days of talks in Switzerland,
trade negotiators for the US and China have announced a major de-escalation in tariffs,
a move they say could ease pressure on businesses and consumers on both sides of the Pacific.
The US will lower those tariffs from 145% to 30%,
while China's retaliatory tariffs on US goods will drop to 10% from 125%.
Well, let's first of all look today at how investors have reacted to this news.
Has their mood improved?
Peter Jankowskis joins us today.