The US and China have agreed to resume trade talks, easing a long row that has contributed to a global economic slowdown.
US President Donald Trump and China's President Xi Jinping reached agreement at the G20 summit in Japan.
Mr Trump also said he would allow US companies to continue to sell to the Chinese tech giant Huawei, in a move seen as a significant concession.
Mr Trump had threatened additional trade sanctions on China.
However after the meeting on the sidelines of the main G20 summit in Osaka, he confirmed that the US would not be adding tariffs on $300bn (£236bn) worth of Chinese imports.
He also said he would continue to negotiate with Beijing "for the time being".
And at a subsequent press conference, the US president declared that US technology companies could again sell to China's Huawei - effectively reversing a ban imposed last month by the US commerce department.
The ban prevented US tech firms from selling to Huawei, crippling the Chinese firm's ability to get critical American technology to help it make its products.