US and China agree to restart trade talks

Trump and Xi jiping

The United States and China on Saturday have agreed to restart trade talks, putting a hold to the trade war that has affected both countries economy.

Speaking on the sidelines after the meeting on the sidelines of the main G20 summit in Osaka, the US president, Donald Trump said he would allow Us companies to continue to sell to the Chinese tech giant Huawei.

Trump said while he will not lift existing import tariffs, he confirmed that he would refrain from adding tariffs on an additional $300 billion worth of Chinese import.

The truce offered relief from a nearly year-long trade standoff in which the countries have slapped tariffs on billions of dollars of each other’s imports, disrupting global supply lines, roiling markets and dragging on global economic growth.

“We’re right back on track and we’ll see what happens,” Trump told reporters after an 80-minute meeting with Chinese President Xi Jinping on the sidelines of a summit of leaders of the Group of 20 (G20) major economies in Osaka, western Japan.

He also said he would continue to negotiate with Beijing “for the time being”.

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