US and China Agree to Restart Trade Negotiations at G-20 Summit
Presidents Trump and Xi agree to pause new tariffs and resume trade talks at the G-20 summit in Japan. Trump also indicates a partial reversal on the Huawei sales ban while expecting new Chinese agricultural purchases.
U.S. President Donald Trump and Chinese President Xi Jinping agree to restart trade negotiations during a highly anticipated bilateral meeting on the sidelines of the G-20 summit in Osaka, Japan. Both leaders confirm that their countries do not plan to levy any new tariffs against each other at the present time, easing immediate fears of further escalation in the ongoing trade war.
Trump indicates a partial reversal of the U.S. ban on selling American products to Chinese telecommunications giant Huawei. He states that the United States will continue selling components to Huawei that do not pose a national security risk, although a final resolution regarding the company remains tied to the conclusion of the broader trade negotiations.
In addition to the tariff pause and Huawei developments, Trump projects that China will purchase large quantities of U.S. agricultural products. The American president also emphasizes that he wants Chinese students to continue entering American schools without facing increased restrictions.