Despite temporary truce in U.S.-China trade war, long list of grievances remains

WASHINGTON – The Trump administration and China declared a temporary truce Friday in their 15-month-long trade war. However, the grievances that led them to impose tariffs on hundreds of billions of dollars worth of each other's goods remain largely unresolved. The administration agreed to suspend a tariff hike on $250 billion worth of Chinese imports that was set to take effect Tuesday. And China agreed to buy up to $50 billion of U.S. farm products. The de-escalation in tension between the world's two largest economies was welcomed by financial markets.