US President Donald Trump and his Chinese counterpart Xi Jinping have held their highly-anticipated talks on the sidelines of the G20 meeting in Japan’s Osaka, amid the ongoing trade row between the two countries.
US President Donald Trump said in a series of twitter posts that he had a “great meeting” with his Chinese counterpart Xi Jinping. He said that he agreed not to increase the already existing US tariffs against China, noting that the negotiations would continue.
He also said that Xi Jinping agreed that while the negotiations on the trade dispute between the two countries are ongoing, China will begin buying agricultural product from US farmers. He added that he was “in no hurry” in trade talks with China.
Donald Trump also said that he agreed to allow Huawei to buy product from US companies.
Washington suspects that Huawei, the world’s largest telecom equipment manufacturer, is helping Beijing steal commercial secrets and collect personal data – allegations both Huawei and Chinese authorities deny. The Trump administration earler blocked government contractors from using Huawei gear and, in a separate development, barred the Chinese firm from buying US-made equipment, including chips.
The US-China trade row has been going on since 2018, after Trump’s decision last June to impose 25 per cent tariffs on $50 billion worth of Chinese goods in a bid to address the trade deficit. Since then, the two sides have exchanged several rounds of duties.
In May, Washington took another step in escalating the dispute, including another $200 billion worth of Chinese goods in the 25 per cent tariff category. China pledged to retaliate by hiking tariffs on $60 billion worth of US imports in June.