China’s surprisingly quick agreement with the US to wind back punitive tariff rates put a spotlight on a Chinese negotiating team that features decades worth of technical trade experience alongside a top aide of President Xi Jinping.

The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.

Often Mr. Trump’s new tariffs are layered on top of existing ones. In this case, the T-shirts were subject to a base tariff of 32 percent based on the value of the import. Many goods typically have a very low base tariff, but garments and other textile goods are subject to some of the highest tariffs.

President Donald Trump says he will likely speak with China’s leader Xi Jinping “maybe at the end of the week.”

Chinese President Xi Jinping’s presence at the parade gave Russian President Vladimir Putin a boost as he tries to show that he is not isolated on the global stage.

For years, the leader of China has planned to make the world dependent on its exports and know-how. But the strategy has costs for his own country.

Among all U.S. allies being wooed by Beijing in its tariff stare-down with Washington, Japan stands out as a peculiar case.