The White House and Beijing have restarted direct talks. The Trump-Xi summit is back on. But don't mistake this for a thaw.
This is a negotiation under duress. Sources close to the PM's office suggest London is watching with bated breath. The UK's economic fortunes are tied to this dance.
A trade war escalation would hammer the pound, already wobbling. Backbenchers are jittery. They remember the Brexit fallout.
The PM needs a win, but so do Trump and Xi. The real game is who blinks first. Expect leaks from both sides.
The Lobby is alive with whispers. One senior Tory told me: 'We're passengers on a plane with two pilots who hate each other.' Stay tuned.
