In a surprising turn, the US and China have agreed to de-escalate their trade war, with the US significantly reducing tariffs on Chinese goods. Beijing responded by lowering its tariffs on US products.

President Donald Trump says he will likely speak with China’s leader Xi Jinping “maybe at the end of the week.”

A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war.