View of Nathan Road in the Kowloon district of Hong Kong, China

The world’s dullest sounding war is “on hold”

No tariffs, lots of trade, everyone's happy... for now

That whole 'trade war' thing we reported on quite a bit is simmering down. China and the US had some talks over the weekend, which the Chinese vice-premier said were "positive, pragmatic, constructive and productive". That's the spirit guys.

What it means: China and the US have a $337bn 'trade deficit' – which means that if you add up the value of everything the two countries buy and sell from each other, China's making $337bn more out of the relationship than the US.

As you might imagine, Trump's not so happy about this. Back in March, he introduced 'tariffs' on Chinese steel and aluminium, which are basically taxes on products from China, in an attempt to reduce demand for Chinese products and earn more for the state from the ones that do get sold.

China wasn't happy about that, and so the threat of the 'trade war' began. But now things are looking better: Beijing has agreed to increase the amount of American farm exports and energy it buys, and America said it'd put the tariffs on hold.

Some US experts think the whole thing is kind of missing the point: they're not so bothered about the deficit, and would rather the government focus on other problems like stopping Chinese companies from stealing American intellectual property.

They also feel the US relies too much on Chinese demand in specific industries, and thinks the US should make itself less reliant on them for those, rather than worry about the 'deficit' as a whole.

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