U.S.-China trade war sees brief respite

The United States and China tapped the brakes on their trade war Wednesday. President Donald Trump said he would delay enforcing tariffs on Chinese imports worth $250 billion from Oct. 1 to Oct. 15 “due to the fact that the People’s Republic of China will be celebrating their 70th anniversary.” Earlier in the day, China announced tariff exemptions for 16 types of U.S. products, including some anti-cancer drugs and animal feed ingredients.

How are the markets responding? Stock values in the United States rose slightly at the easing of tensions in a trade war that began last year. Citi analysts said the moves were encouraging, but “structural differences between U.S. and China persist.”

Dig deeper: Read June Cheng’s report on how the trade war affects the Chinese economy.