On the campaign trail last year, President Donald Trump talked tough about imposing tariffs as high as 60% on Chinese goods and threatened to renew the trade war with China that he launched during his first term.

Donald Trump said he held a “very good” phone call with China’s President Xi Jinping, just days before the US President-elect’s inauguration ceremony.

U.S. President-elect Donald Trump and Chinese President Xi Jinping discussed issues including TikTok, trade and Taiwan in a phone call on Friday, just days before Trump takes office again promising tariffs that could ratchet up tensions between the world's two biggest economies.

Xi’s Communist Party is talking of “win-win” solutions to tensions, such as importing more goods from around the globe. Trump is all of a sudden talking down tensions, too. The absence of “day one” tariffs shocked China.