BEIJING (Reuters) -Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration.

The president said he and Chinese President Xi Jinping still need to sign off on a preliminary deal, even though he called it "done."

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.

Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration. Returning to the White House this year,

With the post-pandemic surge in corporate profits, "margins have never been higher in the history of humankind," Jeff Klingelhofer said.

Treasury Secretary Scott Bessent told Congress that it is "highly likely" that a pause related to steep new US tariffs on other countries will be extended for countries that are negotiating with the administration "in good faith.

A federal appeals court ruled Trump can continue to collect tariffs while businesses and states try to overturn taxes on foreign imports.

China, Mexico, the European Union, Japan, Canada and many airlines and aerospace companies worldwide urged the Trump administration not to impose new national security tariffs on imported commercial planes and parts,