Thanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world. As the global car industry descended on Shanghai last week for China’s premier auto show, attendees of an event organized by electric-car maker Zeekr took in sweeping views of the city’s skyline from the rooftop of the landmark Peace Hotel.

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”