President Donald Trump is hailing the latest trade framework with China as a game-changing breakthrough. Yet the deal he touted Wednesday represents little more than a reset back to earlier terms — and even that came at a cost.

Japanese firms responded to the threat to their exports with a massive foreign direct investment campaign. The U.S. is blocking China from doing the same.

China on Thursday affirmed a trade deal announced by U.S. President Donald Trump, saying both sides needed to abide by the consensus and adding China always kept its word. The deal, reached after Trump and China's President Xi Jinping spoke on the telephone last week,

U.S. President Donald Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs take effect, but did not believe that would be necessary.

The twists and turns in U.S. President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride. Companies are counting the cost of the trade war that is now being estimated at more than $34 billion in lost sales and higher expenses,