Reuters

But the damage to house prices and, in turn, consumer confidence in China, has been done and analysts have projected a 2.5% decline in home prices this year, according to a Reuters poll in February.

Trump placed tariffs of up to 145% on Chinese imports, a move that has prompted some merchants who sell goods made in China from providing discounts as part of Amazon Prime Day, Reuters reported.

Malta has repeatedly insisted that it was correct in its interpretation of EU treaties, Reuters news agency reported.

"This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically," Commerce Secretary Howard Lutnick said in a statement provided to the Reuters news agency.

Over the weekend, a US state department spokesperson told Reuters that Washington was in touch with the governments of India and Pakistan and wanted them to work towards a "responsible resolution", while the British foreign secretary David Lammy spoke to his counterparts in India and deputy prime minister in Pakistan.