Lagarde Warns Impatient Markets That U.S.-China Deal Isn't Easy

International Monetary Fund Managing Director Christine Lagarde urged investors against reacting to every twist and turn of the trade war, saying that a lasting U.S.-China deal will take a “long time.”

Lagarde, speaking in an interview on CNBC Thursday, said she expects that the U.S. and China can identify a framework deal over trade during their 90-day cease-fire period. President Donald Trump and China’s Xi Jinping agreed Saturday to halt any escalation of tariffs as they work out a broader deal on issues including China’s alleged theft of intellectual property.