US, China Agree Trade War Ceasefire on Tariffs
President Donald Trump agreed to temporarily hold his next round of fire in the U.S. trade war with China in order to give Washington and Beijing more time to talk, the White House announced Saturday.
President Donald Trump agreed to temporarily hold his next round of fire in the U.S. trade war with China in order to give Washington and Beijing more time to talk, the White House announced Saturday.
The US president Donald Trump met with Chinese President Xi Jinping on the sidelines of the G-20 summit.
“This was an amazing and productive meeting with unlimited possibilities for both the United States and China,” Trump said in a statement released by the White House. “It is my great honor to be working with President Xi (Xi Jinping).”
“China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries,” it said.
“China has agreed to start purchasing agricultural product from our farmers immediately.”
Under the agreement, Trump will hold off on his vow to increase U.S. tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent on Jan. 1. But if negotiators can’t come to a broader agreement at the end of that time, the tariffs will rise, White House press secretary Sarah Sanders said in the statement.
