Trump and China’s president, Xi Jinping, reached a 90-day trade truce after a dinner at the G20 summit in Buenos Aires on Saturday. But differing reports on the terms of the truce from Chinese and US officials rattled investors fearful of a full-on trade war between the two economic superpowers.



After the meeting Trump told reporters: “It’s an incredible deal. If it goes down, certainly, if it happens, it goes down as one of the largest deals ever made.”

But details of the deal have since unravelled. White House officials have struggled to explain, for example, whether China has actually agreed to drop its 40% tariffs on US autos.