Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.

The talks came as protests erupted across China, where the loss of the U.S.—the country's largest single export market—was forcing factories to shut down. Hundreds of workers turned out to protest unpaid wages and what they described as unjust dismissals, Radio Free Asia reported.

That is the U.S.’s effective tariff on China, with the deal announced after a weekend of negotiations, according to Evercore ISI. That figure includes levies in place be

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

President Donald Trump's tariffs on Chinese imports, which reached 145% in April, prompted waves of U.S. customers to suspend or delay orders for festive decorations, disrupting business for the likes of Lou Xiaobo, whose company Xubo relies on the U.S. for 20% of sales.

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

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

The earlier 120% tariff rate on small packages from China valued under $800 will be lowered, the White House said Monday.