Trump And Xi Came To This Agreement During The G20 Summit

Monday, 01 Jul, 2019

Trump also said the us will resume allowing American companies to sell products to Chinese technology company Huawei, a central firm in USA complaints about China. Surely if it was due to national security issues that would not change due to a trade deal.

At their meeting on Saturday, the leaders shook hands in front of flags in a small conference room, with Trump flanked by Secretary of State Mike Pompeo, a China hawk, and Treasury Secretary Steven Mnuchin, who has taken a more business-friendly approach to the talks. "We will be continuing to negotiate".

Speaking with reporters Saturday, Trump said that he would be discussing the USA blacklisting of Huawei Technologies Co.as well as a broader trade deal.

The US fears that systems built by Huawei ― the world leader in telecom network equipment and number two smartphone supplier ― could be used by China's government for espionage via built-in secret security "back doors".

ON OR OFF?: "We are talking about that, we have a meeting on that tomorrow or Tuesday", says Trump when asked to clarify if Huawei is going to be taken off the USA trade entity list.

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The trade war has hurt both American farmers, and Chinese businesses, and sent economic ripples around the world. But pressing pause doesn't mean the trade war is over. Since the talks collapsed on May 10, Trump has raised tariffs on $200 billion (¥21.58 trillion) of Chinese goods to 25 percent from 10 percent.

Washington has banned the company over security concerns and China reportedly wanted the restrictions lifted under the terms of any trade truce.

"The world needs to rein in the U.S., although it's hard", the paper said in an editorial.

Economists say that a lengthy trade war could be crippling for the global economy at a time when headwinds including increased geopolitical tensions and Brexit are blowing hard.

"We've succeeded after days and nights of negotiations to have again, after all, a 19 to 1 declaration, where the 19 signatory countries of the Paris agreement commit to the same thing as we did in Buenos Aires", Merkel said.

Meanwhile, some other experts said the US-China relations will improve after the Xi-Trump meeting.

Ramaphosa met with his Chinese counterpart Xi Jinping at the G20 summit and expressed South Africa's support for Huawei.

The two sides have agreed to restart trade negotiations that broke down last month, Xinhua News Agency reported, adding that the United States agreed to put no new tariffs on Chinese goods.

Media reports said that Trump had agreed that the U.S. would not impose further tariffs in an ongoing trade war that other world leaders have warned could threaten the global economy.

Media captionTrade war squeezes California's wine country What's the situation with Huawei?

"A lot was accomplished actually last night", Trump said prior to meeting Xi. The latest round of tariffs that were due to go into effect in the next days has been suspended, while China agreed to buy more agricultural products from USA farmers.

Trump also said there had been no discussion of the USA dropping charges of financial fraud related to Iran sanctions against Huawei executive Meng Wanzhou. One such issue was the US' decision to bar Chinese tech giant Huawei from engaging in business activities in the country.