Washington and Beijing have both claimed victory as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost US exports to China.
The two sides have pledged to keep talking about how China could import more energy and agricultural commodities from the United States so as to narrow the $US335 billion annual US goods and services trade deficit with China, but details and a firm timeline were thin.
The biggest immediate beneficiary appeared to be China, which won a reprieve from threatened tariffs on $US50 billion of its exports to the US as well as a lifeline for ZTE Corp, China's second biggest telecom equipment maker, whose existence had been threatened by US sanctions.
The US, meanwhile, appeared to have won promises of more imports by China, although there were no specifics.
Threatened US restrictions on Chinese investments in the US also appeared to be put on the back burner.
Morgan Stanley economists estimated that exports of US agricultural products, primarily beef, and energy, mostly liquified natural gas, could add between $US60 billion and $US90 billion to sales to China over a period of years.
That is far less than the $US200 billion reduction in China's trade surplus that Trump demanded at the start of talks.
"China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products - would be one of the best things to happen to our farmers in many years!" Trump wrote on Twitter on Monday.
China's government praised the cooling of trade tensions, saying agreement was in both nations' interests, while state media trumpeted what it said was Beijing's refusal to surrender to US economic threats.
There were, however, more questions for the Trump administration, which stands accused by critics of selling out on plans to stop the theft of US companies' trade secrets in exchange for a quick deal to reduce the US trade deficit.
Trump has agreed to allow ZTE to stay in business, and the United States and China struck a deal to drop their tariff threats while they worked on a wider trade agreement.
US Commerce Secretary Wilbur Ross will travel to China next week to help finalise a trade agreement, Mnuchin said on Monday.
In an interview with CNBC, he characterised the US tariff plan as suspended, but warned that "the president can always put tariffs back on."
Speaking at a daily briefing, Chinese Foreign Ministry spokesman Lu Kang said both countries had clearly recognised that reaching a consensus was good for all.
