US and China agree to continue tariff talks

Trump says China talks 'back on track'.

The United States and China agreed on Saturday to restart trade talks and Washington will not levy new tariffs on Chinese exports, China’s foreign ministry said, raising hopes for the world’s two largest economies to resolve their trade war.

. In their nearly year-long dispute, the two countries have slapped tariffs on billions of dollars of each other’s imports, disrupting global supply lines, roiling markets and dragging on global economic growth.

The summit, on the sidelines of the G20 meeting in Osaka, Japan, was a continuation of Trump’s years-long crusade to overhaul the US trade relationship with China. He has long accused Beijing of unfair trade practices that sap American manufacturing jobs, and ran for president in 2016 on cracking down on China.

“We’re right back on track and we’ll see what happens,” US President Donald Trump told reporters after meeting Chinese President Xi Jinping on the sidelines of a summit of leaders of the Group of 20 (G20) major economies in Japan.

The 80-minute meeting with Xi was “excellent, as good as it was going to be,” Trump added.

Chinese President Xi Jinping told US President Donald Trump on Saturday that he hopes the United States can treat Chinese companies fairly, China’s Xinhua state news agency reported.

He said that on issues of sovereignty and respect, China must safeguard its core interests.

 

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