The G-20 summit concluded in Buenos Aires on December 1 and brought relief to Chinese and American importers as the leaders from both nations mutually agreed to halt new trade tariffs for 90 days.

The press release issued by the White House reads that on January 1, 2019, tariffs on $200 billion worth of imported Chinese products will not be raised to 25% from the existing 10%, as was initially announced by the United States. In return, China agreed to purchase a substantial amount of agricultural, industrial, and energy products from the U.S., though the exact amount has yet to be agreed upon. This ceasefire aims to reduce the trade conflict that has steadily escalated in the recent months between the two countries.

The United States–Mexico–Canada Agreement (USMCA) was signed by the three member nations on November 30.

The legal revision of the USMCA, the modernized trilateral version of the North American Free Trade Agreement (NAFTA), was concluded last week. The deal was signed on the sidelines of the leaders' summit, the Group of Twenty (G-20 Summit) in Argentina.