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,

Trade talks between the U.S. and China resumed in Switzerland on Sunday as President Trump took to social media to say "great progress" was being made. Trump said in a post late Saturday that the weekend talks were going well, with "many things discussed, much agreed to."