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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 |
(about 1 hour 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". | 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. | 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. |
This move appears to be a big concession to Beijing, says the BBC's Rupert Wingfield-Hayes, in Osaka. | |
How has the US-China trade dispute escalated? | 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? | How will the current breakthrough change the situation? |
The truce signals a pause in hostilities between the world's largest economies, rather than a resolution of the year-long dispute which has caused market turbulence and dragged on global growth. | |
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. | 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." |
Has the Huawei dispute been resolved? | |
The clampdown on dealing with Huawei has been a high profile part of the wider trade conflict between the US and China. | |
Mr Trump's decision to allow US companies to continue to sell to the Chinese technology firm is being seen as a substantial concession to the Chinese. | |
The US president is reversing a US ban imposed last month on Huawei buying US goods without a licence - including from Google, which is crucial to many of the Chinese firm's products. | |
The ban had been expected to cost the firm $30bn (£24bn) in revenue this year, and sparked fears of a "technology cold war" between the two nations. | |
But American companies have also been stopped from buying from Huawei, because Washington says its technology poses a national security risk. | |
So the latest US move does not bring a complete end to the dispute. Mr Trump said the Huawei situation would be dealt with "at the very end" of trade talks between the US and China. |