The United States and China have suspended their trade dispute for now. The dispute rattled financial markets and threatened world economic growth. The US will put on hold plans to raise tariffs on Chinese goods. China has agreed to buy a substantial amount of agricultural, energy, industrial and other products from the United States to reduce America's huge trade deficit with China. In another concession to the US, China has agreed to label fentanyl, the deadly synthetic opioid responsible for tens of thousands of American drug deaths annually, as a controlled substance.

The two sides appear to have had a major change of heart to move away from confrontation toward engagement. This changes the tone and direction of the bilateral conversation. The two countries have been locked in a dispute over their trade imbalance and China’s tech policies. The US accuses China of deploying predatory tactics in its tech drive, including stealing trade secrets and forcing American firms to hand over technology in exchange for access to the Chinese market.

The truce buys time for the two countries to work out their differences. Under the agreement reached, the two countries have 90 days to resolve their differences. If they can't, the US tariff increases will go into effect.