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Trade war

Asian markets soar after Trump and Xi call trade-war truce

Cease-fire only 90 days, but still signals US, China willing to resolve dispute

Some analysts cautioned that uncertainty could return to the markets if a final trade resolution is not reached.   © Reuters

HONG KONG -- Stocks in Asia jumped on Monday after the leaders of the U.S. and China announced a temporary halt in trade tariffs, with mainland and Hong Kong markets leading the region.

U.S. President Donald Trump and Chinese President Xi Jinping, meeting at the Group of 20 summit in Argentina over the weekend, declared a cease-fire in the two countries' trade war. The U.S. agreed to not increase tariffs for 90 days and China said it would increase the amount of U.S. items it purchases, as the two sides work toward a broader trade agreement.

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