Donald Trump’s trade war with China may be entering a new phase. Ahead of his meeting with Xi Jinping, US and Chinese officials have agreed on a temporary “framework” — a truce, not a deal. Washington is easing tariff threats and considering limited chip exports to Beijing, while China promises delayed rare earth curbs and more soybean purchases. But with no deadlines, no enforcement, and vague commitments, the deal looks shaky. Palki Sharma explains how Trump’s hardline trade policy is quietly shifting toward compromise — and what it means for the global economy.