What is happening: There has been somewhat of a truce in the US-China trade war, for the time being anyway. This could not have come soon enough as the two sides’ back and forth was heading in a dangerous direction.
Why is this happening: The two countries have negotiated terms, albeit temporary, to benefit the economies of both nations, while also slowing the mad rush for manufacturers to alter supply chains by January.
China: China have agreed to buy more US products, while boosting shipments and prices for products like soybeans and natural gas. They will also cut tariffs on US-made cars.
US: America will hold off on raising the tariffs from 10% to 25% on $200 billion worth of goods in January.