The Nightly reports that expectations are piling on the Australian Prime Minister to secure a reprieve from sweeping Trump trade tariffs when he meets the US President at the G7 summit next week, but a lasting détente between the US and China is the result the economy really needs.

Hopes of a thaw in tensions between the world’s two largest economies were boosted on Thursday with revelations that Mr Trump and Chinese leader Xi Jinping had agreed to launch a new round of talks to resolve a trade war that has caused global disruption.

USSC Director of Research Jared Mondschein is quoted in the article.