Trump administration halts plans to impose tariffs on 150 billion dollars in Chinese products.

The US appears to have stepped back from a trade war with China.

The Trump administration's decided to halt plans on imposing tariffs on 150 billion dollars in Chinese products.

It follows a joint statement from the countries yesterday that Beijing promised to "significantly" increase purchases of American goods and services.

US Treasury Secretary Steven Mnuchin says there's been "meaningful progress".