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G20 summit: Trump and Xi agree to restart US-China trade talks | G20 summit: Trump and Xi agree to restart US-China trade talks |
(32 minutes later) | |
The United States and China have agreed to resume trade negotiations, easing a protracted row that has fuelled a global economic slowdown. | The United States and China have agreed to resume trade negotiations, easing a protracted row that has fuelled a global economic slowdown. |
US President Donald Trump and Chinese President Xi Jinping reached the agreement on the sidelines of the G20 summit in Japan. | US President Donald Trump and Chinese President Xi Jinping reached the agreement on the sidelines of the G20 summit in Japan. |
Mr Trump said the talks had been "excellent". | Mr Trump said the talks had been "excellent". |
He had threatened to impose an additional $300bn (£236bn) in tariffs on Chinese imports. | He had threatened to impose an additional $300bn (£236bn) in tariffs on Chinese imports. |
However after the meeting in Osaka, he confirmed that Washington would not be adding the additional tariffs, and that he would continue to negotiate with Beijing "for the time being". | |
The US president also announced that American companies could continue to sell to the Chinese technology firm Huawei, which Washington has banned because of security concerns. | |
But Mr Trump said that dispute would be dealt with 'at the very end' of trade talks. | |
How has the US-China trade dispute escalated? | |
US and China - the world's two largest economies - have been fighting a damaging trade war over the past year. | US and China - the world's two largest economies - have been fighting a damaging trade war over the past year. |
Mr Trump accused China of stealing intellectual property and forcing US firms to share trade secrets in order to do business in China. | Mr Trump accused China of stealing intellectual property and forcing US firms to share trade secrets in order to do business in China. |
China, in turn, said the US's demands for business reform were unreasonable. | China, in turn, said the US's demands for business reform were unreasonable. |
The feud escalated in the months leading up to the summit, after talks between the two countries collapsed in May. | The feud escalated in the months leading up to the summit, after talks between the two countries collapsed in May. |
How will the current breakthrough change the situation? | |
Speaking after his meeting with Mr Xi at the summit, the US president said negotiations were "back on track". | Speaking after his meeting with Mr Xi at the summit, the US president said negotiations were "back on track". |
"We had a very good meeting with President Xi of China, excellent, I would say excellent, as good as it was going to be," Mr Trump told reporters. "We discussed a lot of things and we're right back on track and we'll see what happens." | "We had a very good meeting with President Xi of China, excellent, I would say excellent, as good as it was going to be," Mr Trump told reporters. "We discussed a lot of things and we're right back on track and we'll see what happens." |
In a statement, China's foreign ministry said negotiators from both sides would discuss the specific details, but did not elaborate. | |
China's official state news agency Xinhua also quoted Mr Xi as saying: "China and the US have highly integrated interests and extensive co-operation areas and they should not fall into so-called traps of conflict and confrontation." | China's official state news agency Xinhua also quoted Mr Xi as saying: "China and the US have highly integrated interests and extensive co-operation areas and they should not fall into so-called traps of conflict and confrontation." |