Both sides are hailing the temporary reprieve, which will cut U.S. duties on Chinese goods to 30 percent, but analysts say underlying issues remain.

The 145 percent U.S. tariff on Chinese goods will come down to 30 percent for 90 days, while the two sides continue talks aimed at resolving their differences.

President Donald Trump’s trade war is a source of anxiety for Wall Street’s crème de la crème. But among those with close ties to the administration, there are glimmers of hope that it is finally generating momentum in bilateral trade talks.