After five months of constant escalations in their long-running trade war with the US, Chinese officials on Friday finally secured a respite.
In return for a series of modest concessions, most of which had been offered by President Xi Jinping’s administration in previous negotiating rounds, Donald Trump agreed to suspend another set of tariff increases originally scheduled to take effect on October 15.
The truce sets the stage for a series of much higher-stakes negotiations after Mr Xi and Mr Trump’s expected encounter on the sidelines of the Asia Pacific Economic Conference, scheduled for November 16-17 in Santiago, Chile, where Friday’s agreement will be finalised.
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