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Trade war truce: U.S. and China agree to restart negotiations

June 29, 2019

On Saturday, U.S. President Donald Trump and Chinese President Xi Jinping reached a trade agreement at the G20 summit in Japan.

Trump said he would allow the Chinese tech giant Huawei to sell its products to U.S. companies and said he would not impose tariffs on $300 billion worth of Chinese goods as he has previously threatened to do.

He said that he would continue negotiating with Beijing “for the time being” and that trade talks were “back on track.”

Speaking at a press conference after a meeting between the two leaders, President Trump said Huawei would be allowed to sell its products to U.S. companies – lifting a ban the U.S. Department of Commerce placed on the Chinese firm last month.

“We will continue to negotiate, and I promise that at least for the time being we won’t be adding additional [tariffs],” said Trump. “We’re going to work with China to see if we can make a deal. China will consult with us and will be buying a tremendous amount of food and agricultural products, and they’re going to start doing that almost immediately.”

In response to Xi calling for “cooperation and dialogue,” President Trump said, “We are totally open to it.”

“We want to do some things that will even it up with respect to trade,” Trump added. “We were very close but something happened where it slipped up a little bit.”

– MK. II

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