Trump to Hold Off on Tariff Hikes Against China, Negotiations Continue

Trump, Xi Agree On Tariff Cease-Fire, As Trade Talks Continue

"Both parties agree that they will endeavour to have this transaction completed within the next 90 days".

The two leaders, who were in Buenos Aires for a summit of the G20 countries, called it "a highly successful meeting", a White House statement said. Wang Yi, China's top diplomat, told reporters that the negotiations had been conducted in a "friendly and candid atmosphere".

"China is willing to increase imports in accordance with the needs of its domestic market and the people's needs, including marketable products from the United States, to gradually ease the imbalance in two-way trade".

FILE - Plastic bags of fentanyl are displayed at the U.S. Customs and Border Protection area at the International Mail Facility at O'Hare International Airport in Chicago, Nov. 29, 2017. The deadly synthetic opioid is responsible for tens of thousands of US drug deaths annually.

The White House said Xi, "in a wonderful humanitarian gesture", had agreed to designate fentanyl a controlled substance.

Chinese President Xi Jinping and his USA counterpart, Donald Trump, agreed in Buenos Aires Saturday to continue the trade talks between the two countries and stop imposing new tariffs, said Chinese State Councilor and Foreign Minister Wang Yi.

Trump suggested to reporters just before the sit-down that at "some point" it could yield "something that will be good for China and good for the United States".

"Cooperation is the best option for the two countries" in promoting world peace and prosperity, Xi reportedly told the United States president at a working dinner, according to Xinhua.

The two leaders struck the agreement during a roughly 2.5-hour dinner on the sidelines of the summit of G-20 leaders, personally tackling several of the greatest irritants in the U.S.

"The Qualcomm deal that they rejected - which was one of the larger deals of its kind, which China rejected - if that deal came back to him, he would most likely approve it quickly, which is a big thing".

The U.S. also reaffirmed in the document its decision to withdraw for the Paris Climate Change accords, stating that it was committed to "economic growth and energy access and security, utilizing all energy sources and technologies while protecting the environment".

The two were expected to meet Saturday amid a period of increased tensions between China and the United States.

The US, which has already slapped tariffs on $250 billion of Chinese products, has also threatened Beijing with an additional $267 billion in levies unless China shows a willingness to close the massive trade deficit.

Chinese state TV says agreement has been reached with the U.S. not to impose any additional trade tariffs after 1 January and talks will go on.

In a joint declaration, the group of nations said the current multilateral trading system is "falling short of its objectives and there is room for improvement", and supported reforms to the World Trade Organization.

At the same time, US farmers have been hurt by reduced Chinese imports of soybeans and other products. China responded by imposing its own round of tariffs.

"He was a terrific guy and he'll be missed".

He indicated that the global challenges require global solutions, and at the same time said consensus "cannot be reached overnight" and they are processes "with its ups and downs" that continue beyond the summit. Trump left immediately to board Air Force One for Washington, having spent two days attending the summit of G20 countries.

"The relationship that I have with President Xi, I think that's going to be a very primary reason we'll probably ending up getting something good for China and good for the United States, so we very much appreciate it".

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