The recent deal between the United States and China to pause trade hostilities for 90 days will likely spur renewed activity throughout China's mammoth manufacturing sector, with repercussions for the country's energy needs.

The Trump administration agreed after talks in Switzerland to pare back its 145 percent in tariffs charged on imports from China to 30 percent.

The ascent of the US Treasury Secretary Scott Bessent to lead trade negotiations was the start of the process. Trade hardliner Pete Navarro has been clearly sidelined. It was Bessent who was in Switzerland with Chinese Vice Premier He Lifeng at the weekend.

Walmart has warned customers to expect higher prices despite the recent deal between the US and China to reduce punitive tariffs imposed in Donald Trump’s trade war. The world’s biggest retailer is particularly exposed to the US president’s trade war.

Walmart’s first quarter profit slipped and it said it must raise prices due to higher costs from tariffs implemented by President Donald Trump