Talks between Trump and Xi Jinping led to an agreement to put a stop on further tariffs on China’s exports to USA.
Trade talks restart between China and USA at the G20 Summit where Chinese PM Xi Jinping and US President Trump agreed to engage in dialogue.
-Washington has agreed to hold off imposing new tariffs on China.
-China has agreed to buy farm products from USA.
-Trump earlier claimed that the duties he has imposed on a range of goods and metal imports are filling up state coffers.
-China was set to retaliate after it earlier responded saying it will not swallow any ‘bitter fruit’.
-Trade war had left importers in both countries feeling the heat of increasing tariffs.
Details are lacking regarding what China will buy from the USA but Trump said at a news conference “We’re holding back on tariffs and they’re going to buy farm products. If we make a deal, it will be a very historic event.”
Relief for Chinese telecom player Huawei?
In a statement about the talks between POTUS and China’s Xi, China’s foreign ministry said that the USA has agreed to hold back on tariffs and they would discuss specific issues. The Huawei issue is surely one of them.
Caught in a crossfire between US and China trade war, Huawei has suffered enough. Xi told Trump that he hoped US would treat Chinese companies fairly. Xi was also cited saying “China must safeguard its core interests.