China on Wednesday said it was suspending some non-tariff countermeasures against the United States, in another de-escalation of the trade war with Washington following high-level talks in Switzerland.

Washington and Beijing agreed to drastically lower sky-high tariffs in a deal that emerged from pivotal talks at the weekend in Geneva

The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.