Both sides are hailing the temporary reprieve, which will cut U.S. duties on Chinese goods to 30 percent, but analysts say underlying issues remain.

Top US officials involved in high-level trade negotiations with China emerged from two days of talks touting “substantial progress” and appearing to confirm that a deal between the two countries had been reached,

With Wall Street embracing another rally, some financial markets are trading like Donald Trump’s “Liberation Day” shock never happened. The S&P 500 jumped 3.3%, and the Nasdaq 100 Index pushed back into a bull market.