Source:  POLITICO'S MORNING AGRICULTURE, 7/1/19

During an 80-minute meeting this weekend on the sidelines of the G-20 gathering in Osaka, Japan, Trump agreed to postpone his plans to slap tariffs on another $300 billion in Chinese goods, allowing Washington and Beijing to reboot negotiations after they fell apart in May, writePOLITICO's Doug Palmer and Anita Kumar.

"We're holding on tariffs, and they're going to buy farm product,"Trump said after his sit-down with Xi. China last week bought about 544,000 metric tons of U.S. soybeans, the largest purchase since March, according to USDA data.

More farm goods flowing to China would be welcome news for U.S. ag producers, who have seen exports plummet amid the trade war. Trump's decision to postpone tariffs is also a relief for U.S. businesses and consumers.

But China hasn't fulfilled its previous promises to buy about 14 million tons of soybeans as part of prior short-term trade deals with Trump, as Perdue has pointed out. And, as Bloomberg notes , a Chinese government summary of the truce makes no mention of renewed food and farm purchases.

What else is in the truce? Trump will ease his trade ban on Chinese telecom giant Huawei, which is a major customer for many U.S. tech companies.

What's not in the truce? There's still no timeline for concluding the trade talks — and, of course, no guarantee that negotiators will be able to resolve their differences on major issues like structural changes to the Chinese economy.

What's it mean for 2020? Read up on how Trump is planning to spin the ongoing trade fight with China as a win.