President Donald Trump and Chinese President Xi Jinping agreed to a new cease-fire Saturday in a yearlong trade war during their meeting on the sidelines of a conference in Japan, averting, at least for now, an escalation feared by financial markets and the business community while negotiations continue. Xinhua, the Chinese state-run news agency, said the leaders had agreed that stalled trade talks would resume and that the U.S. would hold off on threatened additional tariffs on Chinese goods. The two leaders had sought to find an off-ramp to a burgeoning trade war between the economic powerhouses despite doubts about their willingness to compromise on a long term solution. Trump had said earlier that relations with China were “right back on track. The apparent truce marks a pattern for talks between Trump and Xi, who have professed their friendship with each other and hit the pause button on protectionist measures after their conversations, only to see negotiations later break down over the contentious details. White House officials declined immediate comment. But President Donald Trump said earlier Saturday that he would make an announcement on the results of his talks during a news conference later in the day. Sen. Kamala Harris,…