China, US to continue trade talks, cease new tariffs

Sunday, 2018-12-02 09:28:31
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Chinese President Xi Jinping (R), US counterpart Donald Trump (L) meet in Buenos Aires (Photo: Reuters)
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Chinese President Xi Jinping and his US counterpart Donald Trump agreed in Buenos Aires of Argentina on December 1 to continue the trade talks between the two countries and stop imposing new tariffs, said Chinese State Councilor and Foreign Minister Wang Yi.

Wang told the press at a briefing on the closely-watched Xi-Trump working dinner concluded earlier in the day.

On the same day, the White House also said that China and the United States have agreed to halt new tariffs as both nations engage in trade talks with the goal of reaching an agreement within 90 days. The agreement reacheched after US President Donald Trump and Chinese President Xi Jinping held high-stakes talks in Argentina.

Trump agreed not to boost tariffs on US$200 billion of Chinese goods to 25 percent on January 1 as previously announced, as China agreed to buy an unspecified but "very substantial" amount of agricultural, energy, industrial and other products, the White House said.

Chinese President Xi Jinping and his US counterpart Donald Trump agreed to meet at the G20 summit in a telephone conversation early last month, in which Xi said that both he and President Trump have good visions for a healthy and stable development of China-US relations as well as for the expansion of economic and trade cooperation.