United States and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy.

Speaking in Washington, U.S. President Donald Trump said the pact would be “transformative” for the us economy.

Chinese leaders called it a “win-win” deal that would help foster better relations between the two countries.

China has pledged to boost us imports by 200 billion dollars above 2017 levels and strengthen intellectual property rules.

In exchange, United States has agreed to halve some of the new tariffs it has imposed on Chinese products.

However the majority of the border taxes remain in place, which has prompted business groups to call for further talks