Donald Trump, Xi Jinping agree to ceasefire in tariff war after G20 dinner date, as US goes it alone on climate change
The White House says US President Donald Trump and Chinese President Xi Jinping have reached a 90-day ceasefire agreement on new economic tariffs to allow for continuing trade negotiations.
Key points:
- Mr Trump has agreed not to go ahead with new US tariffs on Chinese imports planned for January 1
- European Union officials say the US was the main holdout on nearly every issue, including climate change
- Angela Merkel says "everyone agrees that the WTO should be reformed"
The two met for dinner in Buenos Aires, Argentina at the end of the G20 meeting.
White House press secretary Sarah Sanders said Mr Trump had agreed not to raise US tariffs on Chinese imports as scheduled on January 1.
"China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries," Ms Sanders said.
She added that the two countries would "immediately begin negotiations on structural changes" around intellectual property protections, cybertheft and other US priorities.
Chinese state television reported "no additional tariffs will be imposed after January 1, and negotiations between the two sides will continue".
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All I care about are the Markets and this 'do-nothing' stance should be a slight positive