The US and China reached a truce in their trade war after Washington agreed to a limited deal involving relief from looming US tariffs in exchange for some Chinese concessions, primarily on agricultural purchases.
The tentative agreement — described on Friday by Donald Trump, the US president, as a “substantial phase one deal” — will offer some respite to the global economy and could calm markets unnerved by escalating tensions between the countries.
However, it would not represent the sweeping reset in US-China economic relations that Mr Trump has sought from his early days in the White House, and on the 2016 presidential campaign trail.
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