President Donald Trump's trade war truce with China still leaves a hefty 30% tariff in place, at least for the time being, but the deal improves the outlook for the economy.

Joseph Capurso and Carol Kong at CBA have written an excellent report explaining the economic implications of the US-China trade war de-escalation. Key Points: The 90 day reduction in tariffs on US-China trade confirms ‘peak tariff’ is past.

A s China’s export machine sputters under the weight of 145% tariffs, jobs are at risk. Some 16m workers are involved in the production of goods bound for America, says Goldman Sachs, a bank. Nomura, another bank, projects a possible 5.7m job losses in the near term and 15.8m in the long run, as the shock ripples through the economy.