Both sides are hailing the temporary reprieve, which will cut U.S. duties on Chinese goods to 30 percent, but analysts say underlying issues remain.

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.

The United States and China announced that tariffs against one another will be reduced for an initial 90-day period following trade talks in Switzerland.

The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.

The lead U.S. negotiator in trade talks with China cheered “a great deal of productivity” in resolving differences between the world’s two leading economic powers, after officials wrapped two days of bargaining in Switzerland following President

It’s unlikely the U.S. and China can erase the tension in their geopolitical rivalry. But they can manage it. The current talks provide a key avenue.

Trump floated an 80% tariff rate with China on Friday ... have roiled global markets and supply chains before talks can begin, reports claim. AFP via Getty Images The president revealed his first trade deal with the UK on Thursday, leaving the 10% tariff ...

Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.