What happened

President Donald Trump and China's government Monday extended a truce in their trade war for another three months, giving negotiators until Nov. 10 to secure a trade agreement or another extension.

Trump threatened China with tariffs as high as 145% in April, provoking retaliatory tariffs of 125% from Beijing, before a temporary truce in May lowered tax rates to 30% on Chinese imports and 10% on U.S. goods.

Who said what

April's triple-digit tariffs "amounted to a de facto trade embargo" between the world's two biggest economies and showed that China could "create supply shortages that risked empty shelves at Walmart" and a shortage of rare-earth magnets for defense contractors, The Washington Post said.

While the European Union, Japan and other U.S. trading partners

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