Progress on US-China trade over the weekend sent stocks soaring on Monday. Some top commentators say tariffs are still a big risk.

Chinese state media — and many outside analysts — declared Beijing had won round one of the trade war after the Trump administration rolled back many tariffs.

The U.S. and China have agreed to temporarily rollback on some tariffs. Adam Posen, president of the Peterson Institute for International Economics, puts today’s deal into context.