The world’s two biggest economies have stepped back from the brink.

After imposing retaliatory tariff hikes at rates never seen before, the United States and China have agreed to a truce.

US taxes on Chinese goods will now fall from 145 percent to 30 percent, and China will cut theirs on US items from 125 percent to 10 percent.

Some of the levies have been scrapped altogether while others have been put on hold.

After weeks of considerable strain, many people are looking to see how global supply chains will be affected.

Is it the end of the global trade war, triggered last month by US President Donald Trump?

And what does it mean for those countries who had been anticipating big investments due to the steep duties on China?

Presenter: Elizabeth Puranam

Guests:

William Lee, chief economist, Milken Institute

Huiyao Wang, founder, Center for China and Globalization

Jayant Menon, former lead economist, Asian Development Bank