President Donald Trump hailed a “total reset” in trade relations between the U.S. and China. But other trading partners may not find negotiations quite so smooth. To many, China may have appeared the toughest agreement to reach but Trump suggested otherwise, taking aim at the European Union Monday.

"Today’s announcement is a positive step that will allow some trade between the two countries to resume," said U.S.-China Business Council President Sean Stein

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

Most stock markets in the Gulf settled higher on Tuesday, although gains were limited as investors paused to weigh whether a temporary pause in the U.S.- China trade war would lead to a long-lasting agreement.

The relationship reset steers the U.S. economy back on a more familiar path as the major consumer of goods as economists lower recession odds.