By Laurie Chen, Emily Green and Francesco Guarascio BEIJING/MEXICO CITY/HANOI (Reuters) -A new U.S.-China agreement to pause sky-high tariffs on each other is pressuring manufacturing hubs such as Vietnam and Mexico to make their own,

Stock markets rose sharply as the globe’s two major economic powers took a step back from a clash that has unsettled the global economy.

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.