China has reported its exports accelerated in June as a reprieve on U.S. tariffs prompted a rush of orders by companies and consumers.

Trade ties appeared to have stabilised in June after U.S. and Chinese negotiators agreed to revive a fragile truce reached during talks in Geneva in May. The agreement had been strained before the talks by a series of export controls that disrupted supply chains for key industries on both sides of the Pacific.

The European Union announced that it would delay retaliatory tariffs against U.S. goods following President Trump's tariff letter last week that said all goods imported from the EU countries would be levied at 30% beginning Aug.