U.S. President Donald Trump took to his social media platform, Truth Social, on Wednesday to proclaim that a deal with China was “done,” pending final approval from himself and Chinese President Xi Jinping.

China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations.

Shortly after President Donald Trump returned to the White House in January, he launched a tariff war against China, as part of a broader implementation of import taxes on goods from several dozen countries as Trump seeks to reset the foundations of global trade.

President Donald Trump and officials from China announced that they have agreed on a framework for a trade deal between the two major economic powers.

Furniture and bedding from China have been among the top areas where higher tariffs on goods from China have begun to impact consumer prices, according to a new chart from TD Securities. Other areas,

Despite a weaker US dollar, Asian equities were off overnight on growing chatter of a coming Middle East crisis and Trump’s tariff threat reiteration.

A tentative agreement between the White House House and Beijing would, among other things, restore US access to valuable materials from China.

Shares of Oxford Industries were falling Thursday after the company slashed its fiscal-year outlook due to increased tariff costs, leading analysts to caution investors about the challenging economic environment.