Chinese president Xi Jinping and US president Donald Trump have agreed to not add additional tariffs “after Jan 1.”

Mr Trump and Mr Xi agreed to keep their trade war from escalating with a promise to halt the imposition of new tariffs on $200 billion worth of Chinese goods for 90 days. After 90 days, if there’s no progress on structural reform, the US will raise those tariffs to 25%, up from 10%.

China also agreed to boost its purchases of energy, agricultural and industrial goods to reduce its trade imbalance with the US.