US, China buy time with trade truce as pressure builds

Donald Trump and Chinese counterpart Xi Jinping concluded a pomp-filled summit in Washington, with the US leader confirming two more meetings this year. (EPA Images pic)

WASHINGTON: Washington and Beijing may have bought themselves breathing space with an extended trade truce, but analysts warn that time is running out for the world's two biggest economies to resolve their strategic rivalry.

President Donald Trump and Chinese counterpart Xi Jinping concluded a pomp-filled summit Friday, with the US leader confirming they would meet twice more this year.

But even as Trump and Xi "are making nice," their countries "remain locked in a bitter competition over trade, tech, Taiwan, defense, rare earths and industrial policy," said Daniel Russel of the Asia Society Policy Institute.