U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of what both sides described as constructive talks in Stockholm aimed at defusing an escalating trade war between the world's two biggest economies that threatens global growth.

The Stockholm meeting, following similar talks in Geneva and London, is set to extend a 90-day pause on those tariffs. During the hiatus, U.S. tariffs have been lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.

Apple reported strong iPhone sales and rebound in revenue from China, giving a much-needed boost to two parts of the company’s business that had struggled over the past year.

Global iPhone sales were up 13.5 per cent year on year at $44.6bn. The strong earnings are a boost to Apple which has been heavily hit by Trump’s trade and tariff agenda since his “liberation day” announcements in April,