Among all U.S. allies being wooed by Beijing in its tariff stare-down with Washington, Japan stands out as a peculiar case.

Key Takeaways President Donald Trump said Sunday that the high tariffs against China, imposed in April, are only meant to be temporary, raising hopes in financial markets of a trade deal between the world's two largest economies.

President Donald Trump said on Sunday that his top priority was to secure a fair trade deal with China, after the fallout from his chaotic tariff policy shook consumer and business sentiment globally and led to a first-quarter U.