US-China tariff deal: What does it mean?

Michael RaceBusiness reporter, BBC NewsGetty ImagesThe US and China have agreed a truce to lower import taxes on goods being traded between the two countries.The agreement marks a major de-escalation of the trade war between the world's two biggest economies, which has sent shockwaves impacting countless other countries, including the UK.Here's what it all means.What has been announced?Both the US and China have…