For President Xi Jinping, the stage was set for an explosive start to Donald Trump’s presidency, after he campaigned on a promise to punish China with tariffs. Instead, the American leader’s first day back in office bought Beijing some unexpected breathing room.

President Trump said little about China in his inauguration address Monday amid growing signs that he's becoming friendlier with the country he's long assailed. Why it matters: Trump ignited a trade war with China during his first term and pledged to do the same thing again this time.