G20 summit 2019 Live Updates : China Says U.S. Agrees to Restart Trade Talks, Trump : Won’t be Raising Tariffs for Time Being

Saturday, June 29, 2019

‘We’re right back on track,’ Trump says of China trade talks

China and the United States have agreed to resume trade talks, official Chinese media announced Saturday after President Trump and Xi Jinping, China’s top leader, held an 80-minute meeting during the Group of 20 summit in Osaka, Japan.

The talks had broken down seven weeks ago when the Chinese side said that it could not accept some provisions that had been tentatively agreed to in an incomplete draft text.

“We discussed a lot of things, and we’re right back on track,” Mr. Trump told reporters early Saturday afternoon following his meeting with President Xi.

Mr. Trump later added, “We had a very, very good meeting with China, I would say probably even better than expected, and the negotiations are continuing.”

China’s official Xinhua News Agency provided more detail, saying that the two sides had also agreed that the United States would not impose any new tariffs.

When talks broke down in early May, Mr. Trump had directed his aides to make the legal preparations to put 25 percent tariffs on another $300 billion a year worth of American imports from China. Those tariffs would be in addition to the 25 percent tariffs that the Trump administration has already imposed on $250 billion a year of Chinese goods.

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Trump Says US will Not Raise Tariffs on Chinese Goods for Now

President Donald Trump says the US will hold off raising tariffs on more than $300bn worth of Chinese goods while negotiations to end the trade war between the two countries continue.

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“We will be continuing to negotiate. And I promised that for at least the time being, we are not going to be lifting tariffs on China, and we won’t be adding an additional, I guess we have $350bn left which could be taxed, or could be tariffed. And we’re not doing that. We’re going to work with China on where we left off to see if we can make a deal,” Trump said at a news conference at the end of the two-day G20 Summit.