Trade war truce extension offers hope for US-China deal: Analysts

United States President Donald Trump (centre) and First Lady Melania Trump (far right) at the Governors' Ball in the White House on Sunday. Mr Trump had announced that the tariff hike on US$200 billion (S$270 billion) worth of Chinese goods, schedule
United States President Donald Trump (centre) and First Lady Melania Trump (far right) at the Governors' Ball in the White House on Sunday. Mr Trump had announced that the tariff hike on US$200 billion (S$270 billion) worth of Chinese goods, scheduled to take effect this weekend, would be pushed back to an unspecified date.PHOTO: BLOOMBERG

They say outcome was expected as it is in both countries' interest; China likely to have made biggest concessions

The extension of the US-China trade war truce beyond March 1 points to a higher chance of a deal between the world's two largest economies, which is good news for China as well as the global economy, analysts say.

Most observers expected this outcome as it is in the interest of both countries to strike a deal to avert any further escalation in tensions.

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A version of this article appeared in the print edition of The Straits Times on February 26, 2019, with the headline 'Trade war truce extension offers hope for US-China deal: Analysts'. Print Edition | Subscribe