The U.S. and China have appeared to dial down their trade fight by announcing some concessions on tariffs — but experts warned that it's not yet time to pop the champagne. Markets in Asia rose on U.S. President Donald Trump's tweet that he will delay increasing tariffs on $250 billion of Chinese goods from Oct. 1 to Oct. 15 as "a gesture of good will." His announcement followed an earlier move by Beijing on Wednesday to exempt 16 types of American products from additional tariffs. But, while such de-escalation in tensions between the two countries is welcomed, it's still difficult to see both sides reaching any "real resolution" anytime soon, said James McCormack, Fitch's global head of sovereign ratings. "Things change very quickly, it's hard to know what motivation there is — to be honest — on the U.S. side. So, I wouldn't want to read too much into a small concession suggesting that we're on the road to this being resolved," he told CNBC's "Squawk Box" on Thursday. "I think there's a couple more chapters yet to be written in the trade war," McCormack added.

China, too, may not necessarily be softening its stance on trade with its move to exempt some U.S. goods from additional tariffs, according to Iris Pang, greater China economist at Dutch bank ING. She said in a Wednesday note that Beijing had, in fact, been considering such a move since May. So, the tariff exemption was aimed more at supporting the Chinese economy, and less of "a gesture of sincerity towards the U.S." ahead of next month's trade talks, she explained. "There are still many uncertainties in the coming trade talks. An exemption list of just 16 items will not change China's stance. We believe that China will stand very firm in the negotiations, which will be similar to the last round of talks," Pang said.

Unpredictable trade war