By Ankika Biswas (Reuters) -As financial markets pin their hopes on a de-escalation in the U.S.-China trade war, some experts caution that meaningful progress in striking a deal between the world's two largest economies may still be some way off.

A s China’s export machine sputters under the weight of 145% tariffs, jobs are at risk. Some 16m workers are involved in the production of goods bound for America, says Goldman Sachs, a bank. Nomura, another bank, projects a possible 5.7m job losses in the near term and 15.8m in the long run as the shock ripples through the economy.