US, China sign ‘momentous’ trade deal

U.S. President Donald Trump stands Chinese Vice Premier Liu He after signing "phase one" of the U.S.-China trade agreement in the East Room of the White House in Washington, U.S., January 15, 2020. REUTERS/Kevin Lamarque TPX IMAGES OF THE DAY

WASHINGTON (AFP): The United States and China have signed a truce in their trade war after nearly two years of tensions, bringing relief to markets but largely leaving massive tariffs in place.

The “phase one” deal is also a boon for Donald Trump as he faces an impeachment trial and a tough re-election fight this year, with the President hailing the agreement as “momentous”.