Shares in some of the world's biggest car-makers have enjoyed a bright start to the week. That's after China and the US agreed to a truce in the damaging trade war. One key beneficiary: automakers who export and import vehicles to and from the world's two biggest economies. CGTN's Owen Fairclough has more.

Their dinner at the G20 summit in Argentina produced a trade war truce between Xi Jinping and Donald Trump, followed by a very valuable digestif, the U.S. President tweeting that 'relations with China have taken a big leap forward' after Beijing agreed to cut the 40% import tariff on American-made cars. The Chinese government has yet to confirm this. Shares in European carmakers such as BMW - who make cars in the U.S. to sell in China - saw the benefit, as did major stock markets.

ROBERT HALVER HEAD OF CAPITAL MARKET ANALYSIS, BAADER BANK AG "Even though we are still far from a reasonable and final compromise, we at least have a truce for a few weeks and months, which is of enormous help to the markets."

Under their 90-day truce the U.S. will postpone ramping up tariffs on 200 billion dollars of Chinese imports to 25%-they were scheduled to take effect on January 1st. Beijing has agreed to buy more agricultural and energy commodities. And the two sides will discuss some of the allegations Washington has levelled at China, including alleged intellectual property theft, cybersecurity and unfair trade practices. Beijing has denied these charges, but welcomed the progress made at the G20. And while no timetable has been set for those negotiations, the White House says it will move quickly with the clock ticking on this truce. Owen Fairclough, CGTN.