US President Donald Trump and Russian President Vladimir Putin are heading to Alaska for pivotal talks that could unlock a long-sought peace deal between Russia and Ukraine.

And for now, at least, Beijing views the trade-deficit-obsessed Trump as a more pragmatic and adaptable partner to work with than the China hawks that called the shots during Trump’s first term. China’s leaders now believe they can broker a trade deal with Trump to reduce tensions.

US President Donald Trump said he will hold off on raising tariffs on Chinese goods over the country’s purchases of Russian oil, citing progress he said was made with Vladimir Putin toward ending the war in Ukraine.

Gavekal Dragonomics’ Arthur Kroeber says tariffs haven’t hurt China’s growth perceptions and Beijing won’t accept a weak U.S. trade deal leaving little scope for a trade deal between the two major economies.

The bilateral agreement to extend the temporary trade war truce this week came after a third round of negotiations framed by both sides as positive. Trump’s advisers regularly cite his “excellent” personal relationship with Xi and continue to weigh the possibility of a face-to-face meeting in China later this year.

For years, the US has restricted the sale of powerful AI chips to China. But Trump is letting sales of less-advanced chips happen.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.

Analysts fear Trump’s 15% cut of China chip sales could drive Chinese developers into the arms of Huawei. Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI.

Trump’s major gamble on China continues to pay off, with Chinese negotiators willing to make some concessions. Trump has maintained very high tariffs on America’s second-biggest trading partner without tipping the economy into recession.