The United States and China have called for a 90 day truce in their trade war.

The Trump administration has agreed to reduce its 145% tariff rate on Chinese goods to 30%.

China has agreed to low its lower its tariff rate on U.S. goods to 10%.

Both countries say they're planning more talks on resolving trade disputes.

President Donald Trump was asked about what happens next during a press conference he gave this morning.

If a longer term deal is not reached with China at the end of these 90 days, can the American people expect those tariffs to go back up to 145%?

No, but they would go up substantially higher.

And then, you know, 145 you really decoupling because nobody's going to buy.

But they can go.

They got very high because of additional tariffs.

They applied during the course because of fentanyl and other things.

But no but they go substantially higher.

I'm.

U.S. stocks soared after today's announcement, but analysts warn the conditions could still quickly change.

The deal is welcome news to Kentucky, U.S.

Senator Rand Paul.

He met with business leaders today in Louisville to hear their concerns about Trump's tariffs and trade policy.

Our Jim Lefler has more.

Paul responded to reporters not long after the deal with China was announced.

If it's lowering tariffs, it's good.

If it raises tariffs is bad, even with China.

The new agreement with China is ideally not the last, Paul says.

And China's the nation.

We have more of an adverse relationship than any other country right now than maybe Russia.

And I think what you're finding, though, is that if we were to cut off trade with China short, harsh China was going to hurt us too.

Do you trust the president, though, with his tactics?

I would prefer we weren't putting tariffs on.

Paul has pulled no punches with the president on this topic.

He's urged colleagues in Congress to step in and roll back Trump's tariffs.

The key fallacy is that those who are for tariffs say we're being ripped off because somehow other countries are ripping us off.

You trade with Walmart, you trade with target, you trade with Amazon, you buy things.

If those things were made in the country and you buy them, you still voluntarily thought it was a good deal.

Monday, Paul met with Louisville's business community, who relayed their concerns to the senator.

He's just today we had representatives from business services sectors, healthcare, we had office furniture in the room, manufacturing.

We had the bourbon industry in the room.

And then the uncertainty itself creates some challenges.

Will my supplier have products for me to sell 90 days from now?

Those are all questions that have arisen.

And in some cases, we've seen products taken off the shelves that that has been the case with bourbon in Canada.

And so now the bourbon industry cannot sell their products.

It's not even that that consumers in Canada have a choice to pay more.

It is.

They can't even purchase it in Canada.

Paul says tariffs are getting in the way of a free and fair economy, but you really shouldn't have to live where the only way your business can succeed is by hiring lobbyists and trying to convince somebody to give you an exemption.

Like with China, Apple got an exemption for their iPhone.

But Apple's huge trillion dollar business and they have the leverage to do it.

What if you sell toasters and you imported from China and you sell toasters.

You have a successful business and people like and buy your toasters, but you don't have enough of a lobbyist to get an exemption that your business gets crushed.

And, the bigger business is down.

So, you know, having a hodgepodge of things where you can get an exemption if you have an expensive lobbyist, isn't a good idea either.

Kentucky carmakers face a complicated tariff system this month, 25% tariffs on imported auto parts went into effect, though the industry successfully lobbied for various reimbursements for those parts.

For Kentucky Edition and June Leffler.

Thank you.

June.

Speaking of the auto industry, the CEO of Ford said last month that layoffs are not in sight for the 12,000.

Louisville based workers.

UPS, which has its world port hub in Louisville, has announced a major layoffs.

U.P.S.

has not announced if or how many Louisville workers could lose their jobs.