Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.

In a significant development for global trade, the United States and China have agreed to a 90-day pause in their escalating tariff war, substantially reducing tariffs on each other's goods. The US will cut tariffs on Chinese imports from 145% to 30%, while China will lower tariffs on American goods from 125% to 10%.

China on Wednesday paused some non-tariff measures taken against 17 U.S. entities put on its unreliable entity list in April and 28 U.S. entities on its export control list, the commerce ministry said.