S&P 500 falls for the first time in four sessions as Fed’s Powell cautions about higher long-term rates

US and Chinese officials met for trade talks in South Korea on Thursday, just days after both sides met in Switzerland and agreed to pause some tariffs for 90 days.

US Trade Representative Jamieson Greer sat down with China’s chief trade representative Li Chenggang in Jeju, South Korea, according to a South Korean official with knowledge of the matter. No other details have been provided yet and the US Embassy in Seoul didn’t immediately respond to a request to confirm the meeting.

The truce in the ongoing trade war between the world’s two largest economies has brought some relief to companies, many of which have been hit hard by rising costs due to the tit-for-tat tariffs. Still, the suspension is only temporary, and firms also have to consider what happens to tariffs affecting South Korea, Japan, Vietnam and other nations that the US announced and then suspended.