High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy.

While Donald Trump hailed the outcome of trade talks in London, Xi Jinping walked away with an understated strategic gain: a negotiating process that buys China time and helps defuse the threat of more harmful tariffs and technology curbs.

U.S. and Chinese trade teams appeared to make modest progress a month before paused monster tariffs are due to resume, but Trump says a deal "is done."